Larry Ellison Will Step Down as CEO of Oracle, Will Remain as CTO

Are there any more details into why he's doing this?

Cause he's going to be CTO instead.

Interesting that they name Co-CEO's in Catz and Hurd. I wonder how that will work, especially given Hurd's "tough to work with" reputation.

Interestingly Ellison will be the CTO. This could be a shit show with 3 people trying to run the show!

I mean does anyone really expect Larry Ellison to start taking marching orders. Will be interesting to watch the short interest on this company!

I think the two headed CEO is what the street expected all along as Catz has been around for ever and alot of people thought that Hurd, the former HP CEO, was promised the CEO title when Ellison resigned.

It looks like they, Catz and Hurd, will split the running of day to day operations as Hurd gets sales, marketing and strategy reporting to him, while Catz will continue to have finance, legal and manufacturing.

Its down about a dollar after the close on about a third higher trading volume than normal. So it doesn't look like anyone is "spooked" by the news.

Pressure from the board maybe..?

Which company was that?