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Oracle's CEO Larry Ellison steps down as "Oracle's CEO"


Larry Ellison is stepping down as Oracle's CEO, a position he has held at the company since he founded it in 1977.

 Ellison is the world's top-paid CEO, bringing in $78.4 million last year. Technically, his salary is only $1 -- he gets paid in company stock options. He's the fifth-richest person in the world, with a net worth of $51 billion, according to Forbes.

Safra Catz and Mark Hurd, Ellison's top lieutenants, will replace him as co-CEOs. Catz has been Oracle's president since 2004, and Hurd joined Oracle after his unceremonious ouster as CEO of Hewlett-Packard (HPQ, Tech30) in 2010
 

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