Oracle Board of Directors appoints ex CEO Larry Ellison as Executive Chairman and CTO

Oracle has caused a world wide earthquake with the latest news announcing a change in its management, Larry Ellison, one of the founders of the Oracle empire who remained the only CEO of the company for about 35 years left his position and was appointed executive chairman and CTO.

The news comes only a few days from the Oracle OpenWorld 2014, the event that each year draws to San Francisco Oracle customers and partners from all over the world. The CEO position will be occupied by Mark Hurd and Safra Catz. Catz has been President since 2004 and Oracle Hurd joined the company after his departure as CEO of Hewlett Packard in 2010. All manufacturing, finance, and legal functions will report to Safra Catz. While all sales, service and vertical industry global business units will report to Mark Hurd. All software and hardware engineering functions will report to Oracle Chairman and CTO, Larry Ellison. Oracle ex Chairman’s Jeff Henley, was appointed Oracle’s Vice Chairman of the Board.

American businessman Larry Ellison, co-founder and now chairman of Oracle Corporation, is one of the wealthiest man in the world with an estimated fortune of $52 billion. With the output of Ellison as CEO goes one of the latest technological empire founders of Silicon Valley, along with Steve Jobs (Apple) and Bill Gates (Microsoft).

Larry Ellison, declared:

Safra and Mark will now report to the Oracle Board rather than to me, 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.