Oracle’s announcement Thursday that Larry Ellison will give up his CEO title after 37 years drew a resounding ho-hum from several analysts, though the Redwood City technology company’s stock was down nearly 5 percent in early trading Friday.
Here are excerpts from notes issued by experts at the Wall Street firms to the news that Ellison, 70, will become executive chairman and chief technology officer, while the chief-executive’s position will now be shared by former co-presidents Safra Catz and Mark Hurd:
Canacord Genuity:: “We view the change as nothing more than a shift in titles.”
Raymond James: “Though we were surprised by Larry Ellison’s move to Chairman/CTO from CEO, it was more likely recognition of the status quo versus a ‘regime change.”
Wells Fargo: “Ellison’s leaving the CEO position marks the end of an era, but we don’t expect any changes to the strategy or day-to-day operations.”
Still, some firms added these cautionary comments:
FBR Capitial Markets: “We believe the sudden timing of Larry Ellison exiting the CEO role was a bit of a shocker to the street and thus adds some more uncertainty to the story in the near term.”
Technology Business Research: “The related promotions of Hurd and Catz increases the spotlight on how these three executives have and will collaborate going forward.”
Photo by Eric Risberg, AP
