Oracle Board Names Larry Ellison Executive Chairman and CTO

Oracle’s board of directors has elected Larry Ellison to the position of executive chairman of Oracle's board and appointed him CTO.

The Oracle board also promoted both Safra Catz and Mark Hurd to the position of CEO, at Oracle. All manufacturing, finance, and legal functions will continue to report to Oracle CEO, Safra Catz. Sales, service and vertical industry global business units will continue to report to Oracle CEO, Mark Hurd. Software and hardware engineering functions will continue to report to Larry Ellison.

"Safra and Mark will now report to the Oracle Board rather than to me," said Ellison, in a statement. "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."

"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 Oracle board presiding director, Michael Boskin, said in a statement. "Safra and Mark are exceptional executives who have repeatedly demonstrated their ability to lead, manage and grow the company.”