When Hewlett-Packard (HP) Framed Mark Hurd. Shaken this summer by a sulfurous sexual harassment case, Mark Hurd has been forced to resign last August, its CEO. A month later (yesterday, Monday), it is announced as the new co-president and member of the board of directors of Oracle, the third leading publisher of software.
HP immediately filed a complaint with the California court: the recruitment of Mark Hurd by a large competitor would be "at risk" of confidential information. The agreement concluded by Mark Hurd at his departure from HP does not provide non-compete clause, but it includes a confidentiality agreement with a duration of two years.
"In his new positions, Hurd will be in a situation where it can meet its commitments to Oracle without being forced to use and disclose to other trade secrets and confidential information from HP," justified his ex- employer. Already, he has "endangered the trade secrets and confidential information from HP's most important, pousuit the complaint, which states that Hurd has touched" millions of dollars in cash, shares and stock options in exchange for agreements "between the two parties.
Mark Hurd has earned, according to estimates, about 100 million dollars (79 million euros) during the three years at the helm of Hewlett-Packard and the amount of the agreement reached at his sudden departure is August 6 estimated at 34.6 million.
HP and Oracle partnership challenged
As for Oracle, a transaction is denounced "vindictive" fast cash loans.The boss Larry Ellison, exasperated, deplores action which neglects the highest point the relationship between the two partner companies who have customers in common. For him, HP makes it "impossible to continue the cooperation between HP and Oracle in the technology market.
Oracle is both an important partner of HP and one of its major competitors, including the market for computer servers after its acquisition by Sun Microsystems for $ 5.6 billion, a transaction close in the beginning of this year.
Mark Hurd, an acclaimed master
When Mark Hurd was fired by HP, the action fell 8% to 42.49 dollars in electronic trading session out, shaken by the surprise resignation. The announcement was especially elevated to a scandal that HP had already been pushed to resign as the Mark Hurd was replaced in January 2007.Patricia Dunn had indeed been found to have used private investigators in 2005, who used false identities to obtain phone records of conversations between board members and journalists …
Conversely, when Oracle announced its appointment on Monday, the share closed up almost 6%, while analysts revealed their enthusiasm for the company include Mark Hurd.
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