Larry Ellison is handing over his position as chairman of Oracle to the company's chief financial officer, Jeff Henley.
In addition two executives, Safra Catz and Charles Phillips, have been appointed as company presidents. The database company has been without a president since Ray Lane left in June 2000 to work at a venture capital firm.
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With Henley's promotion to chairman, the company is now seeking a new chief financial officer. Henley, a 13-year Oracle veteran, will fill the role until a successor is found. The appointments are effective immediately.
Oracle has struggled since Lane's departure, said Colin White, an industry analyst with BI Research. This management shuffle appears to be an attempt to bring fresh ideas to the company's executive team, which has been dominated by Ellison, White said.
Since Lane's departure, Oracle has been criticised for lacking depth in its management team. By appointing three executives to senior roles, Oracle is now hoping to rebut such criticism.
Catz will retain her role as Oracle's head of global operations, and Phillips will be in charge of the company's sales, marketing and consulting operations.
Robert McMillan writes for IDG News Service