Oracle Corporation Appoints New Co-CEOs, Bolstering Its AI Focus
Oracle Corporation unveiled a significant leadership shift on Monday, elevating Clay Magouyrk and Mike Sicilia to the positions of co-CEOs. This move is part of the company’s strategy to establish itself as a frontrunner in AI infrastructure.
Magouyrk, 39, formerly the President of Oracle Cloud Infrastructure, joined Oracle in 2014, transitioning from Amazon Web Services. On the other hand, Sicilia, 54, held the position of President of Oracle Industries, where he focused on vertical applications and the application of AI solutions.
The incumbent CEO, Safra Catz, who has been at the helm of Oracle for 11 years, will assume the role of Executive Vice Chair of the Board of Directors. Catz expressed, “Oracle’s technology and business have never been stronger. At this time of strength, it is the right moment to pass the CEO role to the next generation of capable executives.“
The leadership transition coincides with Oracle’s explosive growth in AI infrastructure. The company’s cloud infrastructure revenues have seen a 55% increase to $3.3 billion, and its remaining performance obligations have skyrocketed by 359% to $455 billion. Oracle has recently secured major contracts, including:
- A $300 billion compute agreement with OpenAI
- Participation in the $500 billion Stargate Project
Reflecting investor confidence in Oracle’s AI strategy, the company’s stock has soared by 85% this year. Larry Ellison will maintain his roles as Chairman and Chief Technology Officer.
Source: https://www.cnbc.com/2025/09/22/oracle-names-co-ceos.html