Today after the bell, Oracle announced that its long-time premier Larry Ellison is no longer its CEO. Former HP CEO Mark Hurd will take over the job in partnership with Safra Catz. Catz will manage finance and manufacturing, while Hurd will handle sales. Ellison will take on the titles of Executive Chairman of the Board and CTO.
Larry Ellison has stepped down as Oracle's CEO. While Ellison didn't give any specific reasons for the move, we can only assume it's to spend more time with the girls in hula skirts on his Hawaiian island. Hell, isn't that what you'd do if you had his money.
A lot of sound and fury that ultimately signifies nothing was generated this week as Larry Ellison announced he would be abdicating the role of CEO in favor of being Oracle (ORCL) chairman and CTO. In his place, Safra Catz and Mark Hurd will take the leadership reins.
Oracle’s (ORCL) iconic leader Larry Ellison, who founded the company in 1977, is stepping down as chief executive, handing the helm to current de-facto bosses Mark Hurd and Safra Catz, both of whom will be officially elevated to CEO as Ellison becomes chief technology officer and board executive chairman.
Microsoft’s CEO Steve Ballmer, its Azure chief Satya Nadella and Oracle’s president Mark Hurd are holding a joint press conference next week, just two days before Microsoft’s Build developer conference is scheduled to kick off in San Francisco.
Sure, HP and Oracle are locked in the Itanium legal feud. But it’s time for the media to state the obvious — yet again: Itanium was dead (or at least doomed) long before Oracle killed development for the 64-bit HP-Intel chip. So why did Oracle (NASDAQ: ORCL) and HP (NYSE: HPQ) wind up in court over a dead, er… struggling, microprocessor?
Oracle Corp. (NASDAQ: ORCL) President Mark Hurd says the Sun Microsystems acquisition, which occurred three years ago, has absolutely paid for itself in terms of cash flow vs. the purchase price, and thanks to acquired technologies like hardware and Java.