The announcement about Ellison’s departure was sent from the headquarters in California after the New York Stock Exchange closed Thursday night.
Oracle owner including Java technology, which in recent years has created major problems for the Norwegian banking users.
Ellison was 70 years old last month. His departure signals a generational change, writes Bloomberg.
Shared Governance
The two vice presidents Mark Hurd (57) and Safra Catz (52) has been appointed CEOs and successor Ellison. Hurd leads the sales and marketing department, while Catz’s CFO and head of production activities.
Ellison has in its over 35 years in the management of the company made Oracle the world’s largest software company databases and one of the largest suppliers of IT equipment to businesses.
Rich Man
Oracle shares fell 1 percent on the message manager changed.
Ellison is Oracle’s largest shareholder with a stake of 25 percent of the company.
Oracles market was Thursday 185 billion dollars (1200 billion. kr). That would indicate that Ellison’s shares were worth 300 billion.
According to the American business magazine Forbes says he is on 5th place in the list of America’s richest people with an estimated fortune of $ 51.3 billion (330 billion . kr.)
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