Larry Ellison Steps Down as Oracle’s CEO

Ashlee Vance, reporting for Businessweek:

Larry Ellison has agreed to step down as the chief executive officer at Oracle, ending one of the most entertaining and profitable runs for a leader in business history.

Oracle announced Ellison’s departure via a press release delivered on Thursday afternoon after the close of the U.S. financial markets. The company said that Ellison will remain Chairman of Oracle’s board and take on the role of chief technology officer. Mark Hurd and Safra Catz, both presidents at Oracle, will each inherit the CEO title. Catz will remain as chief financial officer as well.

He goes out on top, on his own terms, with Oracle stock at an all-time high.

★ Thursday, 18 September 2014