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

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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 Thursday. “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.

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