Last week, Oracle Corp. founder and CEO Larry Ellison announced that he was stepping down as chief executive. The catch? Ellison, who will remain the computer technology company’s chief technology officer and chairman of its board, has chosen not just one replacement for himself, but two.
Copresidents Safra Catz and Mark Hurd will now be the dual chief executives of Oracle. And while Ellison’s management style and bold personality—the fifth-wealthiest man in the world owns a Hawaiian island—will be hard to match, there might be an even bigger problem than filling his shoes. Having two CEOs may sound like a good idea, but giving the reins to dual leaders may also cause big governance headaches.
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