Oracle CEO Larry Ellison turns 70 with no retirement in sight Most people start thinking about retirement when they turn 70, if they havent already called it a career. Not Oracle CEO Larry Ellison, who passed that milestone Sunday. He sure doesnt appear to be ready to retire, said analyst Frank Scavo, managing partner of IT consulting firm Strativa. I suppose technically he has to be drawing Social Security at this point. That has to be something, a check coming in the mail each month made out to Larry Ellison for $933, Scavo joked of Oracles billionaire co-founder, who is one of the worlds richest people. Ellison looked hale, hearty and engaged in recent public appearances, such as the launch of Oracles new in-memory option for its flagship database. If he were to have a sudden health crisis preventing him from working, there would likely be a short-term reaction from the stock market, Scavo said. However, Oracle has an extremely deep bench in terms of talent, he added. The CEOs top lieutenants include co-presidents Mark Hurd and Safra Catz, as well as product development chief Thomas Kurian. Speculation has swirled for years about whether Ellison has tapped a leader to succeed him, or has another type of plan in place. An Oracle spokeswoman declined to comment on the topic or make Ellison available for an interview. Of course, Ellison has plenty going on in his life apart from Oracle. Last year,his sailing team won the Americas Cup and surely will defend the crown at some point. Ellison is also working on a variety of projects on Lanai, the Hawaiian island he bought in 2012 for reportedly more than US$500 million. The presence of executives such as Hurd, Catz and Kurian means Ellison can leave the companys day-to-day operations to them while focusing on Oracles big-picture strategy. And indeed Ellison does. He chairs Oracles three major weekly product meetings and is said to spend days working on his keynote presentations, closely watched affairs in which he typically unveils new products and lays out Oracles future plans. The next of these will come next month during Oracles massive OpenWorld conference, where a big focus is expected to be on the vendors move into all aspects of cloud computing, from IaaS (infrastructure as a service) to PaaS (platform as a service) to SaaS (software as a service) applications. Oracle has made a number of acquisitions to build out its cloud portfolio and is also pushing its homegrown Fusion Applications, which can be run in SaaS form. While Oracle has declared itself the industrys second-largest cloud vendor after Salesforce, it remains largely in transition from its traditional on-premises software business. We urge you to like us and be updated.....
Posted on: Fri, 22 Aug 2014 11:53:12 +0000
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