Oracle CEO Larry Ellison Steps Down
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Justin Sullivan/Getty Images(REDWOOD SHORES, Calif.) — Oracle founder Larry Ellison announced Thursday that he will step down as the software company’s CEO.
The tech guru, 70, and prominent public figure will turn over the reins to his two co-presidents, Safra Catz and former Hewlett-Packard executive Mark Hurd.
Ellison founded the Oracle in 1977. It is valued at $185 billion.
Ellison follows other influential founders to turn over the chief executive office, including Bill Gates in 2000 and Steve Jobs in 2011.
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