Oracle Corporation (NYSE:ORCL)’s CEO, Larry Ellison, has recently stepped down from his position leaving the vacancy to be filled by Mark V. Hurd, who joined the company in 2010 as a co-president and board member. Safra Catz, who was co-president and CFO of Oracle Corporation (NYSE:ORCL), will be the new co-CEO of the company. Committee for Economic Development President and CEO Steve Odland and Bloomberg Contributing Editor David Kirkpatrick analyzed on Bloomberg these latest changes.
It’s worth noting that although Mr. Ellison’s presence will not be felt among the executives, the change is supposed to work out only towards the better of Oracle Corporation (NYSE:ORCL). The business is well established, with lots of achievements, among which the famous Java programming language, attained so far and capability of accomplishing even more.
“Mark’s a proven entity. He had a great turnaround at HP [Hewlett-Packard]. He’s been behind the scenes for several years, so I think Oracle is a great company. It’s got all these technologies, they got a great pipeline, and even if they didn’t, they have all these other technologies they can buy and integrate,” added Steve Odland.
The sole difficulty that might be encountered relates to the twin-headed style of management. However, this should not create any internal conflict as Oracle Corporation (NYSE:ORCL)’s executives have an experience of working together of about four years.
“I suspect that they’re going in understanding clearly what the lines of division are in terms of who’s going to focus on what and I think the point is right that Larry’s not going away,” said Steve Odland.
Then there’s the fact, as pointed by Mr. Odland, that Larry Ellison will still be the executive chairman of Oracle Corporation (NYSE:ORCL)’s board, as well as the company’s chief technology officer, thus retaining a sufficient amount of influence over the company. Shortly, the names have been changed, with minor differences for the roles.
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