Lary Ellison is stepping down as CEO of Oracle. He will now be the company’s CTO and executive chairman of the Oracle board. Filling in in his shoes, because he is after all Lary Ellison, will be two CEOs. The Oracle board has appointed both Safra Catz and Mark Hurd to the position of Oracle CEO.

All manufacturing, finance, and legal functions will report to Ms. Catz. All sales, service and vertical industry global business units will report to Mr. Hurd. All software and hardware engineering functions will report to Mr. Ellison

Jeff Henley, who has served as Oracle’s Chairman for the last 10 years, was appointed Oracle’s Vice Chairman of the Board.

[Image courtesy: Oracle]