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SAN FRANCISCO – Oracle co-founder Larry Ellison is ending his 37-year reign as CEO of the business software maker that he co-founded and is handing over the job to his two top lieutenants, Safra Catz and Mark Hurd.
As part of the changing-of-the-guard announced Thursday, Ellison will become Oracle Corp.’s chairman and chief technology officer. Jeff Henley, the company’s chairman for the past decade, becomes vice chairman.
Ellison, 70, is likely to continue to play an influential role at Oracle, given his leadership position on the board and his stature as the company’s largest individual shareholder.
The Redwood Shores, California, company is trying to adapt to the technological upheaval that is causing more of its corporate customers to lease software applications stored in remote data centers instead of paying licensing fees to install programs on machines kept in their own offices.