Menu
Larry Ellison steps down as Oracle CEO, Catz, Hurd named co-CEOs

Larry Ellison steps down as Oracle CEO, Catz, Hurd named co-CEOs

Ellison will become CTO and executive chairman of Oracle

Larry Ellison

Larry Ellison

It's the end of an era at Oracle, as CEO Larry Ellison has been appointed executive chairman and CTO of the vendor, with co-presidents Safra Catz and Mark Hurd named co-CEOs.

"Safra and Mark will now report to the Oracle Board rather than to me," Ellison said in a statement. "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."

Oracle's announcement came without warning as it also released first-quarter earnings results.

Catz will remain in charge of manufacturing, finance and legal operations, while Hurd continues handling sales, service and global business units, according to a statement.

All software and hardware engineering will remain under the oversight of Ellison.

The stunning announcement came not long after Ellison's 70th birthday and shortly before the company's annual OpenWorld event, where Ellison is expected to play a major role. While the industry has long speculated about whether Ellison would ever retire from Oracle, until now he has kept his plans closely held.

Ellison's many outside interests, such as his purchase of the Hawaiian island Lanai, his many palatial homes and his victorious America's Cup sailing team, had only served to ramp up speculation about his future with Oracle.

At the same time, Ellison is known for keeping close tabs on Oracle's product development, something he'll apparently continue to do as CTO.

Ellison "guided Oracle through some remarkably choppy technological and economic rough waters, and has done so with remarkable success and continuity. He is quite a character, but he is also an extremely bright and innovative businessman," said Charles King, head of Pund-IT in response to the news that Ellison is stepping aside as CEO.

Oracle executives may discuss Ellison's shifting role further during an earnings conference call. News of his shifting role at the company came as it reported a slight revenue increase and flat income.

Total revenue rose 3 per cent to $US8.6 billion for the first quarter ended Aug. 31, while net income was flat at $US2.2 billion.

Software-as-a-Service (SaaS) and Platform-as-a-Service (PaaS) revenue rose 32 per cent to $US337 million, while hardware systems revenue fell 8 per cent to $US1.2 billion. Both are key areas for Oracle, which derives the bulk of its sales from on-premises software and annual maintenance fees.

"Our Cloud business is already three times the size of Workday, but we won't be satisfied until we're number one in the Cloud," Hurd said in a statement.

OpenWorld will feature the rollout of Oracle's long-anticipated database cloud service, Ellison said in a statement. With the service, "our customers and ISV's can move any of their existing Oracle databases and applications to the Oracle Cloud with the push of a button."

(Joab Jackson in New York contributed to this report.)

Chris Kanaracus covers enterprise software and general technology breaking news for The IDG News Service. Chris' email address is Chris_Kanaracus@idg.com


Follow Us

Join the newsletter!

Error: Please check your email address.

Tags business issueshardware systemssoftwarefinancial resultscloud computinginternetOracle

Featured

Slideshows

Meet the top performing HP partners in NZ

Meet the top performing HP partners in NZ

HP honoured leading partners across the channel at the Partner Awards 2017 in New Zealand, recognising excellence across the entire print and personal systems portfolio.

Meet the top performing HP partners in NZ
Tech industry comes together as Lexel celebrates turning 30

Tech industry comes together as Lexel celebrates turning 30

Leading figures within the technology industry across New Zealand came together to celebrate 30 years of success for Lexel Systems, at a milestone birthday occasion at St Matthews in the City.​

Tech industry comes together as Lexel celebrates turning 30
HP re-imagines education through Auckland event launch

HP re-imagines education through Auckland event launch

HP New Zealand held an inaugural Evolve Education event at Aotea Centre in Auckland, welcoming over 70 principals, teachers and education experts to explore ways of shaping and enhancing learning using technology.

HP re-imagines education through Auckland event launch
Show Comments