Oracle co-CEO Mark Hurd has passed away at the age of 62, according to the company.

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Shares of Oracle fell on the news.

Ticker Security Last Change Change % ORCL ORACLE CORPORATION 59.80 +0.50 +0.84%

Oracle founder Larry Ellison released the following statement.

It is with a profound sense of sadness and loss that I tell everyone here at Oracle that Mark Hurd passed away early this morning. Mark was my close and irreplaceable friend, and trusted colleague. Oracle has lost a brilliant and beloved leader who personally touched the lives of so many of us during his decade at Oracle. All of us will miss Mark’s keen mind and rare ability to analyze, simplify and solve problems quickly. Some of us will miss his friendship and mentorship. I will miss his kindness and sense of humor. Mark leaves his beloved wife Paula, two wonderful daughters who were the joy of his life, and his much larger extended family here at Oracle who came to love him. I know that many of us are inconsolable right now, but we are left with memories and a sense of gratitude…that we had the opportunity to get know Mark, the opportunity to work with him…and become his friend. - Larry Ellison

Last month, Oracle Corporation announced that Hurd was taking a leave of absence for health-related reasons without being specific. Co-CEO Safra Catz was handling day-to-day operations.

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Hurd addressed colleagues at the time in a memo released by the company.

To all my friends and colleagues at Oracle,

Though we all worked hard together to close the first quarter, I've decided that I need to spend time focused on my health. At my request, the Board of Directors has granted me a medical leave of absence. As you all know, Larry, Safra and I have worked together as a strong team, and I have great confidence that they and the entire executive management team will do a terrific job executing the exciting plans we will showcase at the upcoming OpenWorld.

I love Oracle and wish you all success during my absence.

- Mark

FOX Business's Maria Bartiromo interviewed Hurd last year.

WATCH: MARIA BARTIROMO'S INTERVIEW WITH MARK HURD

Hurd, a longtime tech executive, spent the bulk of his career at Hewlett-Packard before being forced out over claims of sexual harassment.