Larry Ellison, the co-founder and chief executive officer of Oracle, has stepped down as CEO.
Ellison has been Oracle’s only chief executive since he founded the company in 1977.
Ellison will remain chairman of Oracle’s board and take on the role of chief technology officer.
The current chairman, Jeffrey O. Henley, will become vice chairman. The chief executive position will be shared by Mark V. Hurd, now co-president, and Safra A. Catz, co-president and chief financial officer.
Born in New York City to an unwed Jewish mother, Ellison contracted pneumonia at the age of nine months and was given to an aunt and uncle for adoption. He did not meet his biological mother again until he was 48.
In 2014, Forbes listed him as the third-wealthiest man in America and as the fifth-wealthiest person in the world, with a fortune of $52 billion.
Oracle Corporation is a U.S.-based multinational computer technology corporation headquartered in Redwood City, California, United States.
