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Oracle shares slide after soft results, CEO change

19
Sep
2014

(Reuters) – Shares of database software maker Oracle Corp. fell 2 percent in premarket trading on Friday after the company posted disappointing quarterly earnings late Thursday and at the same time said Larry Ellison was stepping aside as chief executive. Ellison, co-founder and leader of Oracle for 37 years, will be replaced by co-CEOs Safra Catz and Mark Hurd, although Ellison will remain executive chairman and chief technology officer. Oracle shares were down $1.05 at $40.50 in trading ahead of Friday’s opening bell, and the stock was the No. …

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