Legendary Silicon Valley figure Larry Ellison steps down as Oracle CEO

See the original posting on The Verge

Larry Ellison, the co-founder and chief executive officer of Oracle, has stepped down from his CEO duties. Ellison, 70, has been Oracle’s first and only CEO since 1977, a position that’s made him one of the wealthiest men in America and the entire world. His departure from that role is effective immediately, according to Oracle. Former HP chief Mark Hurd and Safra Catz, Ellison’s most trusted executives, will now become the company’s co-CEOs. They’ve already been handling most day-to-day leadership tasks for several years, according to Businessweek; Ellison largely focused his time on Oracle’s overall strategy before agreeing to step aside today.

Ellison isn’t leaving the company he built; he’ll now serve as Oracle’s executive chairman…

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