September 20, 2010, 6:43 PM — Just hours ago Oracle co-president and recently resigned HP CEO Mark Hurd took the stage at the OpenWorld conference in San Francisco to unveil a new Oracle database, mentioning not once his former employer, the circumstances surrounding his stormy departure from HP, nor the company's lawsuit against Hurd for joining an industry rival.
And just like that, HP caved.
I'm kidding, of course. Hurd would have no reason to mention HP (or any of the recent controversy) during his brief appearance on stage at OpenWorld. His job now is to help sell Oracle products, not fuel any fires. But I'm serious about HP finally realizing its lawsuit against Hurd was a lost cause. HP and Oracle on Monday announced a settlement of the suit that was brought just two weeks ago.
Here's a copy of the joint statement:
HP and Oracle Corp. today reaffirmed their long-term strategic partnership and the resolution of litigation regarding Mark V. Hurd’s employment at Oracle. While the terms of the settlement are confidential, Mr. Hurd will adhere to his obligations to protect HP’s confidential information while fulfilling his responsibilities at Oracle. The agreement also reaffirms HP and Oracle’s commitment to delivering the best products and solutions to their more than 140,000 shared customers.
While some lawyers may not agree, the settlement is all for the best. And not just for Hurd, HP and Oracle. Litigation has a way of fracturing working partnerships. HP and Oracle have been partners for decades. They jointly develop products. Blowing up that relationship could have an adverse impact on 140,000 innocent bystanders.