Larry Ellison is stepping down as chairman of the board for Oracle. He’ll remain on as CEO, a role he’s held since co-founding the company almost 30 years ago. While CFO Jeff Henley is stepping up as chairman, Ellison will still carry a lot of clout: He’s the company’s largest shareholder, claiming 26% of the company.
Some company watchers speculate that the changes — which also promoted to share the president’s role — were made to address concerns about succession at the organization, but Oracle spokespeople say they were made to better use the company’s top talent — and to better serve customers.
It’s clear that spreading the leadership wealth may make Oracle highers up more loyal and productive. But having not shared leadership for so long, will Ellison be able to let go? We’ll see how this plays out.