Former CEO of HP, Mark Hurd, has been appointed co-chairman of Oracle, the company stated on Monday. Mr. Hurd also will join Oracle's board, will be co-president Safra Catz beside her Co-president Charles Phillips has resigned and will leave the company's board, Oracle stated. "Mark has done great work at HP and I hope he will do better at Oracle," said CEO Larry Ellison said in a statement.

Oracle's statement did not specify the scope of his responsibilities Hurd. Ms. Catz, a co-chairman of Oracle, to handle legal issues, finance and helped negotiate the Oracle takeover of Sun Microsystems. Both these positions are required to report to Mr. Ellison. Mr. Hurd will replace Mr. Phillips, who most recently responsible for sales and marketing of Oracle. It has been rumored that Phillips will leave his company after a series of mistakes.