“Larry Ellison announced Thursday he has agreed to step down as CEO of Oracle, the software powerhouse he co-founded,” Jon Swartz, Matt Krantz and Brett Molina report for USA Today.
“Mark Hurd and Safra Catz, co-presidents of Oracle, will take the role as CEO,” Swartz, Krantz and Molina report. “Catz will handle all manufacturing, finance and legal functions at the company, while Hurd manages ‘sales, service and vertical global business units.’
“Ellison, 70, founded the database giant in 1977 and has turned the company into the king of high-end business-focused software,” Swartz, Krantz and Molina report. “He will remain with the company as the board’s chairman and chief technology officer.”
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