×
You will be redirected back to your article in seconds

Larry Ellison Steps Down as Oracle CEO

Larry Ellison has stepped down as CEO of Oracle, the information-technology giant he co-founded in 1977, to become executive chairman and chief technology officer, the company said Thursday.

Oracle’s board of directors promoted both Safra Catz, formerly president and CFO, and Mark Hurd, formerly president, to the position of CEO. Jeff Henley, who has served as Oracle’s chairman for the last 10 years, was appointed vice chairman of Oracle’s board.

Ellison, 70, has a net worth estimated at $51.3 billion, making him the fifth-wealthiest individual on the planet, according to Forbes. Ellison has acquired about two dozen properties in Malibu and also owns of 98% of Hawaii’s Lanai Island. He’s a licensed pilot and an avid fan of sailboat racing, having sponsored several teams competing in the America’s Cup yacht race.

The tech titan’s two offspring are notable figures in Hollywood. Megan Ellison heads Annapurna Pictures, which she founded in 2011 as a production-financing company. Her biggest successes have come with “Zero Dark Thirty,” “American Hustle” and “Her”; she’s also backing awards-season contender “Foxcatcher.”

David Ellison heads Skydance Productions, which has a co-financing and co-production deal at Paramount. David Ellison founded Skydance in 2010 and raised $350 million to co-finance and co-produce movies with Paramount. He launched Skydance Television last year, hiring Marcy Ross as its head. Under the Paramount deal, Skydance has backed “True Grit,” “Mission: Impossible – Ghost Protocol,” “Star Trek Into Darkness” and “World War Z.”

Regarding the changes at Oracle, Larry Ellison said that he, together with Catz and Hurd, “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.”

All manufacturing, finance and legal functions will continue to report to Catz. All sales, service and vertical industry global business units will continue to report to Hurd. All software and hardware engineering functions will continue to report to Ellison, the company said.

“Larry has made it very clear that he wants to keep working full time and focus his energy on product engineering, technology development and strategy,” said Michael Boskin, presiding director of the Oracle board, in a statement.

More Digital

  • Rachel Brill - BR Studio -

    Bleacher Report Taps Epix's Rachel Brill to Head B/R Studio

    Rachel Brill is departing Epix to join WarnerMedia’s Bleacher Report as senior VP and general manager of B/R Studio, the digital sports division’s recently formed original programming arm. As head of B/R Studio, Brill is tasked with building a slate of mid- and long-form content aimed at Bleacher Report’s millennial and Gen Z-skewing audience. She [...]

  • Variety Tastemaker honoree Ayesha Curry

    Ayesha Curry's Impact Ranges From Family to Food to Philanthropy

    Ayesha Curry — wife, mother, restaurateur, author, executive producer and CoverGirl — literally does it all. Receiving Variety’s Inaugural Tastemaker award at the 2019 Napa Valley Film Festival, the entrepreneur is being recognized for her social impact in combining entertainment, philanthropy and her culinary lifestyle. Curry holds her cookbook — her first step toward a [...]

  • Joe Anthony Russo

    Russo Brothers Creating Marvel vs. DC Docu-Series for Quibi

    Anthony and Joseph Russo, who have been key creative members of the Marvel Cinematic Universe, are now bringing a new show to Quibi documenting the decades-long rivalry between Marvel and DC. Quibi, the mobile TV subscription startup founded by Jeffrey Katzenberg, greenlit “Slugfest,” a documentary series executive produced by the Russo Brothers, whose directing credits [...]

  • Nobu Hotel Palo Alto

    High-Tech Flourishes Help Hotels Thrive in Silicon Valley

    To thrive in Silicon Valley, hotels must be up to par, technology-wise. “The Nobu brand marries the east and west to create something entirely new — it’s approachable luxury,” says Andrew Tilley, VP of hotel openings. Nobu Hotel Palo Alto (180 Hamilton Ave., Palo Alto, 650-666-3311, nobuhotels.com) is the latest retreat from chef Nobu Matsuhisa, [...]

  • sirius xm app on phone

    SiriusXM Starts Publishing Daily Videos From Dozens of Shows

    SiriusXM is doubling down on video: The satellite radio service officially announced a new initiative called SiriusXM Video Wednesday, with plans to publish daily videos from dozens of shows to paying subscribers. Some of the SiriusXM hosts you’ll be able to see more from include Kevin Hart, Jenny McCarthy, Joel Osteen, Karen Hunter and Jason [...]

  • Disney Plus user interface home screen

    Disney Says Disney Plus Has Over 10 Million Sign-Ups One Day After Launch

    Touting “extraordinary demand,” Disney announced that Disney Plus had signed up over 10 million users in just one day since launching early on Nov. 12. Analysts had projected Disney Plus would achieve upwards of 8 million subscribers by the end of 2019, helped by Verizon’s free one-year giveaway to unlimited wireless customers. While the 10 [...]

  • Streaming Wars

    Listen: Can the Internet Handle the Imminent Streaming Explosion?

    Cloud computing company Akamai hit a milestone last month when its content delivery network experienced volumes of data exceeding 100 terabytes per second for the first time ever. What was massive enough to clog the Internet’s pipes? The rollout of the second chapter of Fortnite, the video game world’s reigning sensation. But gaming-related software is [...]

More From Our Brands

Access exclusive content