Oracle announced on Monday that Clay Magouyrk, president of cloud infrastructure, and Mike Sicilia, president of industries, have been appointed co-chief executive officers. Current CEO Safra Catz will move into the role of executive vice chair on the company’s board.
Larry Ellison will continue as board chairman and chief technology officer. He remains active outside Oracle, most recently supporting a major media merger led by his son David.
Magouyrk, who led the development of Oracle’s Gen2 cloud platform, and Sicilia, who oversaw applications for industries from banking to retail, will now jointly lead the company. “A few years ago, Clay and Mike committed Oracle’s Infrastructure and Applications businesses to AI—it’s paying off,” Ellison said in a statement.
Oracle has been one of the strongest beneficiaries of the artificial intelligence boom. Its cloud business has seen rising demand, supported by access to Nvidia’s GPUs. Shares of Oracle rose 3 per cent on Monday morning and have surged 30 per cent in the past month. Over the year, the stock is up about 85 per cent, reflecting strong investor confidence after the company projected significant cloud growth.
Catz, who joined Oracle in 1999 and became co-CEO in 2014 before leading as sole CEO after 2019, said, “At this time of strength is the right moment to pass the CEO role to the next generation of capable executives.” She departs after selling more than $2.5 billion in stock this year and remains one of the most notable women leaders in global business.
Oracle has transformed itself from a database software provider to a key player in cloud and AI services. Its recent momentum includes major contracts, such as a $300 billion deal with OpenAI starting in 2027. The company titled its executive transition webcast “AI Changes Everything,” reflecting its focus on AI-driven infrastructure.
In addition to the CEO changes, Oracle announced new leadership moves. Mark Hura, executive vice president of North America sales, has been promoted to president of global field operations, while Doug Kehring, executive vice president of operations, will serve as principal financial officer.
Also read: Viksit Workforce for a Viksit Bharat
Do Follow: The Mainstream formerly known as CIO News LinkedIn Account | The Mainstream formerly known as CIO News Facebook | The Mainstream formerly known as CIO News Youtube | The Mainstream formerly known as CIO News Twitter |The Mainstream formerly known as CIO News Whatsapp Channel | The Mainstream formerly known as CIO News Instagram
About us:
The Mainstream formerly known as CIO News is a premier platform dedicated to delivering latest news, updates, and insights from the tech industry. With its strong foundation of intellectual property and thought leadership, the platform is well-positioned to stay ahead of the curve and lead conversations about how technology shapes our world. From its early days as CIO News to its rebranding as The Mainstream on November 28, 2024, it has been expanding its global reach, targeting key markets in the Middle East & Africa, ASEAN, the USA, and the UK. The Mainstream is a vision to put technology at the center of every conversation, inspiring professionals and organizations to embrace the future of tech.
