Microsoft Corporation (NASDAQ:MSFT) is said to be considering Oracle Corporation (NYSE:ORCL) President Mark Hurd for its new CEO. The company has been looking for a new chief executive in recent weeks after current boss Steve Ballmer announced he would be leaving the company at some point in the next year.
The rumors appear to be an end to the almost foregone conclusion that analysts came to about Steven Elop’s future at Microsoft Corporation (NASDAQ:MSFT). The Nokia Corporation (NYSE:NOK) (BIT:NOK1V) (HEL:NOK1V) executive will move to Microsoft when that company’s acquisition of the Nokia mobile business closes in the coming months.
Michael Gelband’s Exodus Point launched in 2018 with $8.5 billion in assets. Expectations were high that the former Millennium Management executive would be able to take the skills he had learned at Izzy Englander’s hedge fund and replicate its performance, after a decade of running its fixed income business. The fund looks to be proving Read More
Mark Hurd Microsoft rumors
According to the rumors, which were reported by The Wall Street Journal earlier today, Hurd is one of at least eight outsiders that Microsoft Corporation (NASDAQ:MSFT) has approached in relation to the job. He is currently the president at Oracle Corporation (NYSE:ORCL) and is the executive in charge of the company’s hardware business.
Hurd’s background in hardware, and his reputation as a cost cutter, may make him an asset to Microsoft Corporation (NASDAQ:MSFT). The company has gotten into hardware in a big way in recent years, and its recent purchase of the Nokia Corporation (NYSE:NOK) (BIT:NOK1V) (HEL:NOK1V) hardware business means that hardware will be a major part of the company’s future.
Microsoft CEO search
Hurd is just one of the names that has surfaced in recent days in connection with the top job at the software company. Alan Mulally, CEO at Ford Motor Company (NYSE:F), is another name that has recently been associated with the job, while Oracle Corporation (NYSE:ORCL) alumnus Chuck Phillips has also been connected with the position by The Wall Street Journal.
The front runner in recent weeks has been Steven Elop, former CEO at Nokia Corporation (NYSE:NOK) (BIT:NOK1V) (HEL:NOK1V). Elop is currently waiting to be transferred to Microsoft Corporation (NASDAQ:MSFT) as part of the recent acquisition. The reports that Microsoft is looking beyond Elop do not mean that he is out of the running, it simply means that company is gathering options.
Microsoft Corporation (NASDAQ:MSFT) has released no deadline for its CEO selection beyond Ballmer’s 12 month retirement date. The company will be able to take its time to study candidates both internal and external in order to find a good fit for the firm. On today’s market shares in the company were up by about 1%.