You fire the man and not expect him to get a job doing what he has been doing for ~30 years?
Get real! You lost your competitive edge and it is going to be interesting to watch your stock prices as they free-fall.
HP Wants Mark Hurd Out of Oracle[09/07/2010 11:13 PM]
Hewlett-Packard, the company which board of directors forced ex-chief executive officer Mark Hurd to step down because his behaviour violated the company's business conduct, has filed a civil complaint against Mark Hurd demanding his resignation from Oracle. HP believes that Mr. Hurd at his position at Oracle would inevitable share HP's trade secrets with its rival.
As chief executive officer, chairman and the president of HP since 2005, Mark Hurd has learnt a lot about the company and was responsible for strategic and tactical decisions over the years. Quite naturally, Mr. Hurd possesses trade and technological secrets of Hewlett-Packard. The latter believes that as the president of Oracle, Mark Hurd will violate his legal obligations to HP and will share secrets of the latter with the company that now directly competes against HP.
"Hurd has accepter employment at Oracle and will server functions at Oracle similar to his previous roles at HP and thus, cannot avoid disclosing and utilizing HP's trade secrets and confidential information. [...] HP is informed and believes and thereon alleges that Hurd has the intent to disclose HP's trade secrets and confidential information to others, including his new employer," the lawsuit by HP reads.
HP wants Mark Hurd to resign from Oracle and to appoint a "special master" to review on a regular basis that Mr. Hurd and his affiliates do not disclose HP's trade secrets to rivals.
It is not clear how the board of directors decided to fire a person who knows all secrets of HP. It is rather obvious that among other things the board should have understood that Mark Hurd would eventually end up at one of HP's rivals.
According to the head of Oracle, by filing the lawsuit, HP effectively terminated any cooperation between itself and Oracle.
“Oracle has long viewed HP as an important partner. By filing this vindictive lawsuit against Oracle and Mark Hurd, the HP board is acting with utter disregard for that partnership, our joint customers, and their own shareholders and employees. The HP board is making it virtually impossible for Oracle and HP to continue to cooperate and work together in the IT marketplace," said Larry Ellison, chief executive officer of Oracle.
Enter your username and e-mail address. Password will be sent to you.
2:01 pm | Taiwanese Panel Manufacturers Have Aggressive Plans for 4K Panels – Analysts. Panels from Innolux and AUO May Account for More Than Half of All 4K Shipments in 2014
10:55 pm | Google Android Now Commands 62% of Tablet Maket. Worldwide Tablet Sales Grew 68% in 2013
10:13 pm | Samsung Unleashes Tizen-Based Gear 2 Smartwatches. Samsung Introduces Gear 2 Wearable Gadgets
10:00 pm | Apple Rolls Out CarPlay: A Smart and Safe Way to Integrated iPhone into a Car. Apple Expands iPhone to Cars, Other Vehicles
6:51 pm | HMCC Boosts Bandwidth of Hybrid Memory Cube to 480GB/s. HMC Consortium Reveals Hybrid Memory Cube 2.0 Spec
12:52 pm | Razer and Koeningsegg Team Up for Notebooks, Other Products. New Supercar – PC Partnership Announced