Larry Ellison, 70 years, steps down as CEO – and is dedicated to Oracle now other tasks
There is a bang: Larry Ellison, one of the most colorful figures of the technology industry, has given up his post as CEO of he co-founded the American software company Oracle surprising. As the company announced after market close on Thursday, Ellison’s office from now on is twofold: On Ellison follow the 57-year-old Mark Hurd and 52 years old Safra Catz, who previously both had the title of “President” and thus have the role as number two shared within the company.
Author:. Roland Lindner, born in 1970, economic correspondent in New York
Catz was also CFO. Their rise means that now another great American technology company is run by a woman, in addition to companies such as Hewlett-Packard (HP) with Meg Whitman or with Ginni Rometty IBM. For Mark Hurd, the peak position is at Oracle a kind of comeback, because he was between 2005 and 2010 CEO of HP, but then stumbled over a scandal involving fake invoices expenses.
Ellison is Oracle get
Why Ellison so abruptly is now providing the guidance of Oracle, the company left open. Ellison will not leave Oracle, but take as Chairman chairman of the board and also act as Chief Technology Officer. Director Michael Boskin said in a statement, Ellison wanted to continue working full-time for Oracle. Ellison has turned 70 years old a few weeks ago, but has never given the impression that he is weary of the public. With his retirement now adopted one of the last remaining founding figures of the early years of the American information technology from the top of the company, has just as, for example, the Microsoft co-founder Bill Gates done long ago.
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Ellison is a self-made billionaire who has boxed from modest to the top of the software industry. He was born the son of an overburdened girl in their teens in New York, which soon gave him to his aunt in Chicago. Neither in school nor at the University Ellison fell on good performances. In 1977 he founded the company Software Development Laboratories, of which five years later became Oracle. Oracle was large with programs for managing databases in business. Later the company expanded with a series of acquisitions, its radius of action.
Oracle is now also standard business software here and compete here with the German SAP group, the product range also includes network computer (server). Last fought Oracle with some challenges. So the company is a latecomer in cloud computing, one of the biggest trends in information technology. This customer install software no longer on their computers, but call the programs from the Internet. In addition to the change in leadership Oracle said on Thursday quarterly results that were below expectations. Shares of Oracle traded in after-hours trading times around 2 percent in the red.
number five of the richest men in the world
Larry Ellison is notorious that he uses tough bargaining in the competition. Legendary are his verbal attacks on rivals such as IBM or SAP. He inspired once a biography entitled “The Difference Between God and Larry Ellison” – this is the opinion of the author is that God does not hold for Larry Ellison. On the “Forbes” list of the richest people in the world he was last with a fortune of $ 52 billion fifth. In America, only Bill Gates and investor Warren Buffett are richer than Ellison. Despite his already enormous wealth Ellison has let his work with Oracle to last pay handsomely and regularly lay far in lists of the highest paid CEO in America forward.
Unlike some other super-rich like Gates or Buffett, who maintain a rather inconspicuous lifestyle, Ellison makes many private extravagances and provides its richness like to flaunt. He has several luxury villas and a large yacht, and two years ago he bought the Hawaiian island of Lanai. With obsession he aims to win the America’s Cup sailing trophy. His team remained long without success, until the victory but then in 2010 and 2013, and thus equal to twice secured succession.
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