Posted March 22, 2013 by Lisa Johnson in Technology

Post buyout-Hurd may be herded into Dell Inc (NASDAQ:DELL) CEO position by Blackstone


Northern, WI 03/21/2013 (avauncer) - The Blackstone Group L.P (NYSE:BX) (Current: $19.90, Down by 1.97%) has approached Mark Hurd the Oracle Corporation (NASDAQ:ORCL) (Current: $32.30, down by 9.69%) president about running the company. Blackstone is also considering to bid for Dell Inc (NASDAQ:DELL) (Current: $14.14, Down by 1.33%). A person in the know said that the overture was a private one and that the private-equity firm has not yet put forth any formal offer to Hurd. Dell’s founder, Michael Dell and Silver Lake Management LLC have planned a $24.4 billion buyout of Dell and Blackstone Group L.P (NYSE:BX) is considering a counter offer for the company.

Hurd- top choice

Hurd is the ex-Chief Executive Officer of Hewlett-Packard Company (NYSE:HPQ) (Current: $22.32, down by 2.62%) and under his aegis the company had reclaimed its position in the computer market from Dell. The company stock had boosted to $97.7 billion which was more than half its market value and had diversified into new businesses such as networking gear and computer services. Hurd will be one of the first CEO choices in the event that the position does not continue to be occupied by Dell. Spokesperson for the Redwood City, California-based company, Deborah Hellinger declined to comment.

Whilst with The Hewlett-Packard Company (NYSE:HPQ), the board had said that Hurd had violated the company standards of business conduct and this was the start of a three-year period of management upheaval and chaos within the company. Hurd had to leave the company at that point of time.

Lisa Johnson

Lisa Johnson is an award-winning journalist, host, author and critic, who has appeared as an expert on the CBS Early Show, NBC s Today Show, Dr. Phil, CNN, CNBC, Fox News, CNBC, Bravo and many more. Her work has been featured in The Wall St. Journal, the New York Times, Forbes, Oprah.com, AOL and numerous other media outlets. She has authored three books from major publishers