Since the turn of the economy, technology hasn’t been doing so hot. People just can’t afford to replace their computers and other hardware as often as they’d been doing before. What’s a technology company like Oracle to do? Hire a new president!
Recently, Oracle has hired Mark Hurd, the former CEO of Hewlett-Packard. Hurd formerly helped run the $100 billion business, and he specialized in expanding the company through acquisitions. Since Oracle is a software company getting ready to expand into hardware, Hurd seemed a perfect fit for the job. Business news says he’ll be reporting to CEO Larry Ellison and working with president Safra Catz.
This business news has been important for stockholders, more important than any business news for a while. Oracle’s hiring of Mark Hurd has actually caused their stocks to take a 6.8% jump shortly after the news was made public. According to these numbers, stockholders are ready to trust Mark Hurd to lead Oracle into new territory.
If you’ve got stocks in Oracle, you’ll be interested in following this business news and the stock prices it affects.