Catz to remain sole Oracle CEO as revenue stays flat

Vendor claims cloud business is growing

Oracle is not expecting to appoint a new co-CEO following the passing of Mark Hurd, founder Larry Ellison has confirmed.

On an earnings call, transcribed by Seeking Alpha, Ellison said that there are "no plans" to replace Hurd, with Catz expected to stay as sole CEO.

"Remember, when we announced two CEOs the first time people thought that was a bit odd," he said. "So now people are finding that we have one CEO is a bit odd.

"So let me make it very simple. How's our search going for a second CEO? We don't have plans.

"We have no plans for having a second CEO, it was an unusual situation, where Mark and Safra [Catz] were an absolutely fantastic team."

Ellison was speaking as Oracle reported revenue growth of one per cent to $9.6bn (£7.2bn). Net income fell one per cent to $2.3bn.

Catz said: "As you can see, we had another solid quarter.

"This quarter, we finished with total revenue growth within my guidance range and EPS at the high end.

"Cloud services and licence support continue to see material growth, and given that it represents more than 70 per cent of our total revenue, it more than offsets declines in some smaller, non-strategic businesses."