Larry Ellison stepping down as Oracle CEO

 

Oracle’s Larry Ellison measures down as CEO

Larry Ellison is stepping down as Oracle’s CEO, a place he has held at the organization because he founded it in 1977.

Ellison is the world’s top-compensated CEO , bringing in $ seventy eight.4 million final yr. He is identified for his brash, outspoken demeanor and his affinity for yachting.

Safra Catz and Mark Hurd, Ellison’s best lieutenants, will replace him as co-CEOs. Catz has been Oracle’s president because 2004, and Hurd joined Oracle soon after his unceremonious ouster as CEO of Hewlett-Packard in 2010.

Ellison will continue to be at Oracle ( ORCL , Tech30 ) , using more than as govt chairman of the firm’s board on Thursday. He was also presented the title of Main Technology Officer.

“The three of us have been operating properly together for the very last several years, and we strategy to proceed working collectively for the foreseeable potential,” Ellison explained. “Trying to keep this management crew in spot has always been a leading priority of mine.”

Ellison will keep on to perform “complete time,” shifting his focus from management to merchandise engineering, in accordance to business director Michael Boskin.

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