Oracle CEO Larry Ellison to become Executive Chairman and CTO

VARINDIA- INDIA'S FRONTLINE IT MAGAZINE

The technology giant Oracle(NYSE:ORCL) has announced that CEO Larry Ellison will step down from his position to take on the role of Executive Chairman and Chief Technology Officer of the company.Co-Presidents Mark Hurd and Safra Catz have been elevated to the positions of Co-Chief Executives. "Safra and Mark will now report to the Oracle board rather than to me. 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," Ellison said. Ellison plans to continue to work full time and focus on product engineering and strategy, said Michael Boskin, the Oracle Board's Presiding Director.The appointment comes at a critical time for Oracle. The company is expected to release its long-anticipated multitenant database cloud service by next week. Here, it is important to note that anticipating multitenant database cloud service will help enterprises and ISVs to port Oracle applications over the cloud.