Oracle Will Not Replace Mark Hurd As Co-CEO
Larry Ellison tells investors in a Q2 earnings call that a unique relationship prompted splitting the top job between two executives in 2014. Now Safra Catz will maintain the position on her own.
Oracle has decided not to hire a second chief executive to fill the vacancy left when Mark Hurd died in October, Executive Chairman and CTO Larry Ellison told investors Thursday.
"How's our search going for a second CEO," Ellison repeated an analyst's question. "We don't have one. We have no plans for a second CEO."
Instead, Safra Catz will carry out the position alone, he said.
Catz started the earnings call by thanking everyone who expressed condolences when Hurd died.
"They mean a lot to us," she said.
When asked about finding another co-CEO, she deferred to Ellison, who quickly shot down the idea.
Ellison noted that people thought it was odd when the company first decided to go with two CEOs in 2014 after he stepped down from the position. Now they think it's odd to just have one.
But the decision to split the top job a few years ago was the result of an usually good working relationship between Hurd and Catz.
Oracle will continue to expand its management team, Ellison said, "but one of the strategies is to not hire a second CEO.”
The search for another leader will be put on hold until "both Safra and I retire," he said, "which is not any time soon."