Larry Ellison steps down as CEO of Oracle, retains board chairman spot

Surprisingly, Oracle has announced that founder and CEO Larry Ellison will be stepping down, effective immediately. The outgoing CEO will be replaced by Mark Hurd and Safra Catz, who will both be named CEO of the company, but not be named co-CEOs. Ellison is remaining on the board as executive chairman, and in a business capacity as chief technology officer for the company….

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