Oracle CEO Larry Ellison Steps Down to Become CTO, Board Executive ChairmanOracle CEO Larry Ellison Steps Down to Become CTO, Board Executive Chairman
Oracle CEO Larry Ellison has stepped down as the company's frontman. Both Safra Catz and Mark Hurd have been promoted to the position of CEO. Ellison becomes executive chairman of Oracle's board and CTO.
September 19, 2014
Oracle (ORCL) CEO Larry Ellison is stepping down from the post he’s held for nearly 40 years to take on new company roles.
As a result of this change, Ellison will become chief technology officer and executive chairman of Oracle’s board. Mark Hurd and Safra Catz will lead the company as co-CEOs. Hurd has been president at Oracle since September 2010. Catz has been co-president and chief financial officer at Oracle since April 2011.
Ellison said in a statement that both Hurd and Catz will now report to the Oracle Board. “All the other reporting relationships will remain unchanged,” he said.
Here the breakdown of who reports to who:
All manufacturing, finance, and legal functions will continue to report to Catz.
All sales, service and vertical industry global business units will continue to report to Hurd.
All software and hardware engineering functions will continue to report to Ellison.
“The three of us have been working well together for the last several years, and we plan to continue working together for the foreseeable future,” Ellison said. “Keeping this management team in place has always been a top priority of mine.”
Additionally, Jeff Henley, who has served as Oracle’s Chairman for the last 10 years, was appointed Oracle’s vice chairman of the board.
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