70-year-old Larry Ellison leaves post of CEO of Oracle. Is he retiring? Not at all.
Larry Ellison steps down as CEO of Oracle. What sounds like initially as huge bomb turns out to be just some management changes. Larry Ellison stays at Oracle and is still not retiring. The man is 70 years old. Larry Ellison leaves the CEO post but takes on the role of Executive Chairman of Oracle's Board and Chief Technology Officer.
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Safra Catz and Mark Hurd will share the CEO position as Co-CEOs. All manufacturing, finance, and legal functions will continue to report to Oracle CEO, Safra Catz. All sales, service and vertical industry global business units will continue to report to Oracle CEO, Mark Hurd. All software and hardware engineering functions will continue to report to Oracle Chairman and CTO, Larry Ellison.
"Safra and Mark will now report to the Oracle Board rather than to me," said Larry Ellison. "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."
"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.
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I am amazed that he still keeps working. I would have long ago just stopped and travel the world in one of his luxury yachts.