Oracle CEO Larry Ellison steps down as CEO, Catz, Hurd named co-CEOs

Ellison will become CTO and executive chairman of Oracle

It's the end of an era at Oracle, as CEO Larry Ellison has been appointed executive chairman and CTO of the vendor, with co-presidents Safra Catz and Mark Hurd named co-CEOs.

"Safra and Mark will now report to the Oracle Board rather than to me," Ellison said in a statement. "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."

Oracle's announcement came without warning as it also released first-quarter earnings results.

Catz will remain in charge of manufacturing, finance and legal operations, while Hurd continues handling sales, service and global business units, according to a statement.

All software and hardware engineering will remain under the oversight of Ellison.

(More to follow).

Chris Kanaracus covers enterprise software and general technology breaking news for The IDG News Service. Chris' email address is Chris_Kanaracus@idg.com

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