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Larry Ellison Steps Down as Oracle CEO, to become CTO

From the "Samurai Leadership" files:

Larry Ellison is stepping down as CEO of Oracle.Larry Ellison SUN SPARC Oracle

Let that sink in for a second.

One of the most well-known personalities and forces in the technology world is stepping down from the primary leadership of the company he has led for decades.

But Larry isn't going too far.

Ellison will now become Oracle's CTO and will remain the Chairman of Oracle Inc. Oracle co-presidents Safra Katz and Mark Hurd will now become the company's co-CEOs.

"Safra and Mark will now report to the Oracle Board rather than to me," Ellison said in a statement. "All the other reporting relationships will remain unchanged. The three of us have been working well together for the last several years, and we plan to continue working together for the foreseeable future. Keeping this management team in place has always been a top priority of mine."

Oracle Board's Presiding Director, Dr. Michael Boskin noted in a statement that,""Larry has made it very clear that he wants to keep working full time and focus his energy on product engineering, technology development and strategy."

Sean Michael Kerner is a senior editor at InternetNews.com. Follow him on Twitter @TechJournalist