Oracle’s CEO and Chairman Larry Ellison is stepping down from his CEO position in Oracle but the question is that what would be the new phase of database giant Oracle without Ellsion as CEO.
As per the report, Larry will accede to work as CTO and Executive Chairman of Oracle’s board of directors. In addition to this, President, Mark Hurd and CFO, Safra Katz will play the role of CEO in future.
“Safra and Mark will now report to the Oracle Board rather than to me,” Ellison said in the statement. “All the other reporting relationships will remain unchanged.”
He added “All the other reporting relationships will remain unchanged. 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. Keeping this management team in place has always been a top priority of mine.”
But Hurd and Katz will monitor two different department as Katz will be responsible for manufacturing, legal and finance sector and Hurd to monitor sales, services and business areas.
“Larry has made it very clear that he wants to keep working full time and focus his energy on product engineering, technology development and strategy,” said the Oracle Board’s Presiding Director, Dr. Michael Boskin. “Safra and Mark are exceptional executives who have repeatedly demonstrated their ability to lead, manage and grow the company. The Directors are thrilled that the best senior executive team in the industry will continue to move the company forward into a bright future.”