Mark Hurd Explains Why Oracle Needs Two CEOs
His top two executives, formerly known as presidents, are now co-CEOs, while Ellison has become executive chairman and CTO. The trio has insisted that this change in titles will pretty much not affect anything. All of them will keep doing the jobs they were already doing. Co-CEO Safra Catz even said point blank, "There will actually be no changes, no significant changes."
But at a press conference on Monday during Oracle's big customer conference happening this week in San Francisco, Mark Hurd offered a better explanation.
When a journalist asked why Oracle needed two CEOs to replace Larry Ellison, Hurd explained, "We're a big company. This is bigger than the salesforce. It's bigger than Safra and me. Bigger than Larry, Safra and me. ... It's the development team, other teams. We have over 130,000 people. We need a lot of leadership in our company."
We can't help but wonder if the co-CEO plan is really a years-long job interview between Catz and Hurd. Ellison is 70, and though he shows no signs of slowing down or retiring, this is a first step in a succession plan. When that retirement day comes (when he's 75? 80?), perhaps one of them may have emerged as the ultimate single CEO.
That would be a very Ellison-like way of finding his replacement. Ellison says that the thing that keeps him going and motivated is competition.
"What drives me is this constant testing of limits," he told attendees at a customer conference, earlier this year. "I'm addicted to winning. The more you win, the more you want to win."
- Colon cancer rates are rising in young people. If you have two symptoms you should get a colonoscopy, a GI oncologist says.
- I spent $2,000 for 7 nights in a 179-square-foot room on one of the world's largest cruise ships. Take a look inside my cabin.
- An Ambani disruption in OTT: At just ₹1 per day, you can now enjoy ad-free content on JioCinema
- In second consecutive week of decline, forex kitty drops $2.28 bn to $640.33 bn
- SBI Life Q4 profit rises 4% to ₹811 crore
- IMD predicts severe heatwave conditions over East, South Peninsular India for next five days
- COVID lockdown-related school disruptions will continue to worsen students’ exam results into the 2030s: study
- India legend Yuvraj Singh named ICC Men's T20 World Cup 2024 ambassador
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market