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Oracle puts price tag on Mark Hurd's value in first year: gets compensation valued at $78.4M
SAN FRANCISCO (AP) ' Mark Hurd may get his $100 million payday after all.
The former CEO of Hewlett-Packard Co. was negotiating a multiyear contract that size last year when an ethical scandal erupted and he resigned under pressure. The contract talks crumbled, but Hurd found a new home with his friend Larry Ellison at Oracle Corp. On Friday, Oracle disclosed that Hurd's compensation for the year came in slightly higher than even Ellison's.
Taken together, Hurd's severance package from HP and his hiring package at Oracle may put him well north of the amount he was originally seeking, a rich reward that demonstrates Hurd's strategic and symbolic value in Silicon Valley's rapidly transforming tech landscape.
The document Oracle submitted to the Securities and Exchange Commission shows that Hurd got a pay package valued at $78.4 million for the company's latest fiscal year, which ended May 31.