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Oracle CEO Ellison steps down

September 19, 2014 /

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Larry Ellison announced Thursday he has agreed to step down as CEO of Oracle http://www.oracle.com , the software powerhouse he co-founded.

Mark Hurd and Safra Catz, co-presidents of Oracle, will take the role as CEO. Catz will handle all manufacturing, finance and legal functions at the company, while Hurd manages "sales, service and vertical global business units."

Ellison, 70, founded the database giant in 1977 and has turned the company into the king of high-end business-focused software. He will remain with the company as the board’s chairman and chief technology officer.

Jon Swartz, Matt Krantz and Brett Molina, USA TODAY

Full Story: http://www.usatoday.com/story/money/markets/2014/09/18/oracle-ceo-ellison-step-down/15840949/

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