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Oracle appoints dual CEOs to spearhead AI-driven growth strategy
Oracle has announced the appointment of Clay Magouyrk and Mike Sicilia as co-CEOs, marking a pivotal leadership transition as the tech giant intensifies its focus on artificial intelligence (AI) and cloud computing. Safra Catz, the current CEO, will assume the role of executive vice chair of the board of directors, ensuring continuity in the company’s strategic vision.
Leadership tailored to AI and cloud expansion
The new leadership structure underscores Oracle’s commitment to leveraging its expertise in AI and cloud infrastructure. Magouyrk, who joined Oracle in 2014 after a stint at Amazon Web Services, has been instrumental in transforming Oracle Cloud Infrastructure into a leading platform for AI training and inference workloads. Sicilia, who entered the company through Oracle’s acquisition of Primavera Systems, has modernized Oracle’s industry-specific applications with innovative AI integrations.
“Safra has led Oracle through a transformative era, solidifying our position as a hyperscale cloud leader,” said Larry Ellison, Oracle’s chairman and CTO. “Clay and Mike bring the expertise necessary to drive the next chapter of growth.”
Catz, who has served as CEO since 2014, emphasized that Oracle’s technology and business are stronger than ever. She noted that the company’s recent financial performance reflects its robust trajectory, with “unprecedented growth paving the way for an even more prosperous future.”
Record-breaking growth fuels leadership changes
This leadership transition comes on the heels of Oracle's strong financial results. For its fiscal Q1, the company reported remaining performance obligations of $455 billion, representing a remarkable 359% year-over-year increase. Oracle’s stock surged by 36%, adding $244 billion to its market capitalization and positioning the company closer to the coveted $1 trillion valuation milestone.
Despite the announcement, Oracle’s stock dipped by nearly 0.7% in pre-market trading, according to Reuters.
Strategic focus on AI infrastructure
The dual-CEO model combines complementary expertise to accelerate Oracle’s AI initiatives. Under Magouyrk’s leadership, Oracle has secured major AI-related contracts, including a key deal with OpenAI for 4.5 gigawatts of data center capacity. Sicilia, meanwhile, has spearheaded advancements in vertical applications, integrating sophisticated AI agents across industries such as healthcare, banking, utilities, and retail. His teams have also introduced intent-based application generation, simplifying traditional coding processes for Oracle’s sectoral solutions.
In a joint statement, Magouyrk and Sicilia expressed optimism about Oracle’s future: “We are excited to lead Oracle into the AI era, where technological innovation drives extraordinary business opportunities and hypergrowth.”
Additional executive promotions
In tandem with the CEO appointments, Oracle has promoted Mark Hura to president of global field operations and Doug Kehring to chief financial officer. The company has reiterated its ambitious financial outlook, projecting cloud infrastructure revenues to reach $18 billion by fiscal 2026 and $144 billion by 2030.
These strategic leadership changes ensure continuity, with Ellison maintaining his roles as chairman and CTO and Catz remaining actively involved as executive vice chair. The new structure positions Oracle to harness its AI-driven growth trajectory in the competitive cloud computing landscape.