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Oracle Hires Ex-HP CEO Hurd as President, Director

Oracle Corp., the world’s second-biggest software company, hired former Hewlett-Packard Co. Chief Executive Officer Mark Hurd as a president and board member, reporting to CEO Larry Ellison. Oracle shares jumped.

The company also said in a statement that Charles Phillips resigned as president and director. Hurd, who exited HP last month after the company said he violated standards of business conduct, will serve alongside Oracle President Safra Catz.