"The question arises not just because Oracle recently announced that two executives are the company's new CEOs, succeeding Safra Catz, who had been CEO or co-CEO for the past 11 years. Making the succession more intriguing, Catz has been elevated to the board of directors with a previously unheard-of title, while founder Larry Ellison continues as chairman of the board and chief technology officer, but with duties that are by no means transparent."
"In the plain vanilla version of managing a big corporation, it's simple: The CEO runs the show, and the board oversees the CEO and overall management of the company. It doesn't wade into day-by-day decisions. But in some companies, 11% of the Fortune 500, the board is led by an "executive chair" who is not the CEO but who participates in the company's management while also running the board."
Oracle named two new CEOs while elevating Safra Catz to the board with an unprecedented title and founder Larry Ellison retained chairman and CTO roles with unclear duties. The company's stock doubled in four months, making it the world's 12th most valuable firm and intensifying investor interest in who holds real control. Conventional governance separates CEO operation and board oversight, but an executive chair model—used by 11% of the Fortune 500—places a former CEO in a management role while leading the board. Ellison previously held an executive chair title and later adopted a different title without an announced role change.
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