Larry Ellison will step down as CEO of Oracle

Larry Ellison, the billionaire founder of the business software giant Oracle, said he intends to step down as CEO of the company today and will hand over his duties to co-presidents Mark Hurd and Safra Catz, who will serve as co-CEOs.

Oracle stock dropped 2.5% with the news but is still up 89,640% since its IPO. He goes out on top.