Frontline | Oracle in limbo as CEO takes sick leave, profit misses estimates

September 11, according to foreign media reports, Oracle CEOMark Hurd announced that he will take a leave of absence due to health reasons, to "focus on their own health".
In response, Oracle did not disclose more specific information or announce a time frame for his return. Co-CEO Safra Catz and Founder and CTO Larry Ellison will take over. hurd will also miss next week's OpenWorld conference in San Francisco.
At this point in time, Hurd s departure seems a bit subtle. Earlier, Oracle announced its Q1 2020 earnings report, showing its net profit fell 61 TP3T, to $21.4 billion from $22.7 billion last year. After the earnings report, Oracle's stock plummeted more than 51 TP3T.
In the face of the impact of cloud computing, Oracle, such a veteran company is struggling to transform. But in the cloud computing market, Amazon has long left Oracle far behind.
But in fact, as a veteran of enterprise services, in the B side of the cloud, Oracle would have had a good hand. But 10 years ago, Amazon's S3 service was just launched, Larry Ellison scoffed: "I can't understand what those guys are talking about, it's just a bunch of nonsense. What does cloud computing even mean? Save that stupid concept."
This "stupid concept", and ultimately a little bit of Oracle's market. Their users have become accustomed to on-demand subscription cloud computing, will not look for Oracle to buy a hammer service.
Wind and water turn, a few years ago, Oracle also initiated the transition to cloud computing, but has long missed the best time, but also criticized by many people slow action.
Oracle is also paying the price for its past lapses in judgment. Last year, Oracle lost one of its big guns. "Number two," Thomas Kurian, president and product leader for cloud transformation strategy, left to join Google Cloud instead.
In addition to high-level turmoil, Oracle has also begun to start the layoff program. early May, Oracle confirmed the first batch of layoffs in China more than 900 people, two weeks later, Oracle fired three hundred employees in the Seattle office, which is part of a comprehensive compression plan for the Oracle cloud computing team.
The rise of cloud computing, mobile Internet, so that many of the old companies are weak to cope with. Similar to Oracle, IBM and Intel are also struggling to turn around, only, in such a fast-paced pace of development, they have appeared to be tired.