Oracle said CEO Mark Hurd will take a leave of absence for health-related reasons. Founder Larry Ellison and Safra Catz, who shares the CEO role with Hurd, will assume Hurd’s responsibilities during his absence.
SAP fell the most in nearly five years on signs that its $10-billion bet on cloud-based software faces headwinds, but the companies executives are adamant there is still room to grow.
Boosted in part by escalating US tensions, one Chinese upstart, PingCAP, is stepping in, winning over tech giants, start-ups and financial institutions to its enterprise software.
Oracle announced on Wednesday that it has secured a cloud-computing alliance with Microsoft, an acknowledgment the database giant’s go-it-alone approach to the cloud wasn’t working.
Oracle will dismiss several hundred workers in May as the world’s second largest software maker tries to rejig its faltering cloud computing strategy.
The US software giant has issued a stern “no comment” to accusations that it hired a former senior national treasury official in order to secure a contract to supply software for a major overhaul of the South African government’s IT systems.
Oracle founder Larry Ellison has emerged as the second biggest individual investor in Tesla with a holding worth $1-billion in the electric car maker.