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Oracle’s Ellison steps aside, co-CEOs Catz and Hurd take over

19
Sep
2014

By Noel Randewich and Bill Rigby SAN FRANCISCO/SEATTLE (Reuters) – Larry Ellison, co-founder and leader of Oracle Corp for 37 years, stepped aside as chief executive officer on Thursday, to be replaced by co-CEOs Safra Catz and Mark Hurd, raising questions about a job-sharing arrangement that has had a fraught record elsewhere. Ellison and the two new co-CEOs each stressed that nothing would change under the new management structure, with Ellison staying on as executive chairman and chief technology officer. But Oracle shares fell 2 percent to $40. …

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