Today Oracle announced that Clay Magouyrk and Mike Sicilia have been promoted to Chief Executive Officers, replacing Safra Catz, who has served as CEO since 2014.
Oracle also announced that Mark Hura, currently EVP of Oracle North America Sales, is being promoted to President, Global Field Operations. Doug Kehring, current EVP of Operations, is being promoted to Principal Financial Officer.
Magouyrk, who has been with the company since 2014 has previously served as President of Oracle’s Cloud Infrastructure. Mike Sicilia, steps into the role from his position as President. According to the company, Sicilia, brings “deep expertise in vertical applications and applied AI.”
Together, CEOs Magouyrk and Sicilia will continue to collaborate on building complete industry suites of AI applications on top of Oracle’s rapidly evolving AI Database and Cloud Infrastructure.
“We are excited to lead Oracle into the AI era, where technological innovation leads to extraordinary business opportunity and hyper-growth,” said Magouyrk and Sicilia in a joint statement. “Our combined strengths in AI, cloud infrastructure, horizontal applications and industry applications, will enable Oracle to deliver the latest AI capabilities to our customers.”
Larry Ellison, Oracle’s Chairman of the Board and Chief Technology Officer, stated, “Humanity is investing enormous resources in the race to advance Artificial Intelligence. Oracle Cloud Infrastructure is playing a major part in that effort. Clay’s years of experience leading Oracle’s large, fast-growing Cloud Infrastructure business has demonstrated his readiness for a CEO role. Mike has spent the last several years modernizing Oracle’s Industry applications businesses—including Oracle Health—by completely rebuilding those applications using the latest AI technologies. A few years ago, Clay and Mike committed Oracle’s Infrastructure and Applications businesses to AI—it’s paying off. They are both proven leaders, and I am looking forward to spending the coming years working side-by-side with them. Oracle’s future is bright.”
Safra Catz, who has served as Oracle’s CEO since 2014, has been appointed to serve as Executive Vice Chair of the Oracle Board of Directors. Larry Ellison, Oracle’s Chairman of the Board and Chief Technology Officer, said, “Safra led Oracle as we became a hyperscale cloud powerhouse—clearly demonstrated by our recent results. In her role as Vice Chair, Safra and I will be able to continue our 26-year partnership—helping to guide Oracle’s direction, growth and success.”
Catz commented, “Today, Oracle is recognized as the cloud of choice for both AI training and inferencing. I’m very proud of that. Oracle’s technology and business have never been stronger. And our breathtaking growth rate points to an even more prosperous future. At this time of strength is the right moment to pass the CEO role to the next generation of capable executives. Congratulations Clay and Mike.”
Oracle stock rose 3% following the announcement.
By CEO NA Editorial Staff
