Oracle CEO Mark Hurd takes medical leave, revenue takes a hit

Oracle Corp said on Wednesday Chief Executive Officer Mark Hurd would be taking a medical leave, and the business software maker posted first-quarter revenue that missed Wall Street expectations.

The company’s shares were down 2% in extended trading.

Hurd is one of Oracle’s two CEOs, the other being Safra Catz. Under their tenure, the company has tried to rapidly transition to cloud computing software.

Catz and Oracle founder and Chief Technology Officer Larry Ellison will cover Hurd’s responsibilities during his absence, the company statement said.

Hurd will continue to receive all employment benefits during his leave, Oracle said. The company did not respond to Reuters request for details on Hurd’s health issue and how long his leave would last.