News

Oracle Co-Founder Larry Ellison Steps Down as CEO

Oracle’s co-founder Larry Ellison announced in a company press release today that he would be stepping down from his position as CEO. Two replacements will fill the position, with long-standing co-presidents Mark Hurd and Safra Catz taking the top spot. Hurd will be heading primarily sales, marking and strategy, and Catz will be working on finance and manufacturing as well as legal departments.

The co-founder informed the company that he didn’t plan to retire or step away from his work at Oracle – instead Ellison has been elected to the position of chairman of Oracle’s board. What does this all mean? Ellison will be returning to a more ‘roots based position’ of work and influence within the company – and will be heading development, product engineering and strategy. Ellison’s shift sees him replacing Jeff Henley, who had been serving as chairman for the past decade – Ellison will still be working full time at the company.

Oracle’s board is said to be excited about the reshuffle – and is thrilled that their outstanding executive team will continue to thrive and move the company forward for the future to come. Ellis has not only been an exceptional businessman – seeing Oracle grow into a market capitalisation of $185 billion – but is considered a legendary figure within Silicon Valley for his innovative and progressive work.

Image courtesy of Oracle.

Jeremy Tate

Disqus Comments Loading...

Recent Posts

Electronic Arts Titles Played for Over 11 Billion Hours in 2024

Electronic Arts (EA) announced today that its games were played for over 11 billion hours…

2 days ago

Just 15% of Steam Gaming Time in 2024 Was Spent on New Releases

Steam's annual end-of-year recap, Steam Replay, provides fascinating insights into gamer habits by comparing individual…

2 days ago

STALKER 2 Gets Massive 110GB Patch With 1800+ Fixes

GSC GameWorld released a major title update for STALKER 2 this seeking, bringing the game…

2 days ago

Intel Unveils Core 200H Processors Based on the Previous Raptor Lake Refresh

Without any formal announcement, Intel appears to have revealed its new Core 200H series processors…

3 days ago

Ubisoft Reportedly Developing a New Quadruple A Game

Ubisoft is not having the best of times, but despite recent flops, the company still…

3 days ago

STALKER 2: Heart of Chornobyl Update 1.1 Fixes 1,800 Issues and Revamps A-Life 2.0

If you haven’t started playing STALKER 2: Heart of Chornobyl yet, now might be the…

3 days ago