Oracle Corporation announced that CEO Mark Hurd will take a leave of absence for health-related reasons without being specific.
The disclosure, announced after the close of trading Wednesday, pushed the stock lower in the extended session.
Hurd addressed colleagues in a memo released by the company.
Oracle founder, Larry Ellison, wished Hurd a speedy recovery while also assuring investors that the tech company is in good hands with Co-CEO Safra Catz.
The company also released earnings, posting a profit of $2.13 billion or $0.63 cents, about 6 percent less than the same period a year ago. Revenue was $9.22 billion, little changed.