Oracle's Larry Ellison steps down and two CEOs named

(BBC) Long-serving Oracle boss Larry Ellison is stepping down after 37 years, the technology giant announced on Thursday.

Mark Hurd and Safra Catz have been named as successors, with both being given the chief executive title.

Mr Ellison, 70, who is estimated to be the world's fifth wealthiest man, will stay on as executive chairman and chief technology officer.

He co-founded what would become Oracle with Bob Miner and Ed Oates in 1977.

In a statement, Oracle board president Michael Boskin said: "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.

"Safra and Mark are exceptional executives who have repeatedly demonstrated their ability to lead, manage and grow the company. The Directors are thrilled that the best senior executive team in the industry will continue to move the company forward into a bright future."

Full story: http://www.bbc.com/news/business-29262718


-- BBC 2014-09-19

The Dark Lord of Silicon Valley. If he's still present, he still pulls the strings.

Imagine having all that $$$ and still devoting your life to making more of it.

Most of us would find this hard to comprehend but perhaps people like Larry, the innovators just want to keep working and thinking and doing and hopefully trying to make the world a better place.

Most of us would find this hard to comprehend but perhaps people like Larry, the innovators just want to keep working and thinking and doing and hopefully trying to make the world a better place.

Exactly. It's his hobby. It's what he loves doing.

He's "stepped down" only so he can focus on what he likes best which is developing and improving product.

I can think of several very wealthy guys who never stopped "working."

Oracle is used by many large corporations and countries around the world. I wonder what some of the Middle East clients will think about the new CEOs.

Most of us would find this hard to comprehend but perhaps people like Larry, the innovators just want to keep working and thinking and doing and hopefully trying to make the world a better place.

Thanks for the laugh, it really did knock me off my chair!

Most of us would find this hard to comprehend but perhaps people like Larry, the innovators just want to keep working and thinking and doing and hopefully trying to make the world a better place.

Yes, Ellison has always been devoted to making his own introspective world a better place for himself.

I recall reading a letter to the Sacramento Bee, decades ago. The guy said something like: 'Show me any job in the world and give me a week of good training, and I could do it.' I believe it. 98% of the highest paying jobs in the world could be done by adept people with very little (or no) training.

He's getting a lot of press these days

http://www.nytimes.com/2014/09/28/magazine/larry-ellison-island-hawaii.html

Gotta love Larry. The guy earns $40,000/ hour and like to spend it.

Always entertaining to watch a billionaire play without adult supervision.

I just recalculated.

If he earns 5% on his 48 billion, then he is making $274,000 per hour on top of his salary.