Oracle boss Larry Ellison is to step down as chief executive after 37 years.
He will be replaced by Mark Hurd and Safra Catz and become co-chief executives.
Oracle board president Michael Boskin said: “Safra and Mark are exceptional executives who have repeatedly demonstrated their ability to lead, manage and grow the company. The directors are thrilled that the best senior executive team in the industry will continue to move the company forward into a bright future.”
Ms Catz will run the manufacturing, legal and finance operations at Oracle, while Mr Hurd will be in charge of the sales, service and business units.
The software and hardware engineering teams will continue to report to Ellison.