Oracle's CFO replaces Ellison as chairman
Oracle head Larry Ellison has relinquished his role as chairman to chief financial officer Jeff Henley.
‘Jeff’s been Oracle’s CFO for nearly 13 years. He’s an expert on corporate governance and accounting,’ Ellison said in a statement.
However Ellison has not lost control of the IT services giant, as he continues in his role as chief executive.
The appointment of Henley ‘complements Oracle’s good corporate governance,’ explained Dr Michael Boskin, chairman of governance issues at Oracle.
The executive changes are immediate, but Henley remains in his role as CFO until his successor is found.
Oracle has recently agreed a further $1.5bn (£812m) in credit from lenders as another step towards its goal of taking over rival PeopleSoft.