- Oracle says Safra Catz will leave his role as CEO but remains as EVC on the board
- Clay Magouyrk and Mike Sicilia appointed Co-CEOS
- Oracle is set to “hyper -growth” when fleet of new offers approaches
Oracle has appointed two new co-cos after the shadow giant confirmed the departure to former leader Safra Catz.
Expressidents Clay Magouyrk and Mike Sicilia take over as the company’s new heads, which seems to be earning a number of great new offers.
“A few years ago, Clay and Mike Oracle’s infrastructure and application companies committed to AI – it pays off,” noted the chairman of the board and CTO Larry Ellison. “They are both proven leaders, and I look forward to spending the coming years working side by side with them.”
Safra Catz makes room for two co-cos
Catz does not leave Oracle and move over to the board as director for a decade after a decade who serves as CEO and says it is now the right moment for hand -leading for the next generation.
As part of Shakeup, Oracle confirmed a few other role changes, including Mark Hura’s appointment as president of global field operations and Doug Kehring’s promotion to head financing.
Ellison served as Oracle’s CEO of 1977 until Catz’s appointment in 2014.
Oracle closed the 2014 calendar year with a $ 38.19 share price, but prices have risen to $ 328.15 today under Catz’s management.
“Our combined strengths in AI, Sky Infrastructure, Horizontal Applications and Industry Applications will allow Oracle to deliver the latest AI capabilities to our customers,” Magouyrk and Sicilia said in a joint statement, referring to “hyper growth” and additional business opportunities in the future.
Join Oracle in 2014 from AWS as software development engineer, Magouyrk was responsible for OCI Gen2. Sicilia moved to Oracle when the company acquired Primavera Systems in 2008, which led the development of AI-driven applications across healthcare, banking, communication, hospitality, retail and more.
Oracle recently announced an increase of 12% year over years in quarterly revenue to $ 14.9 billion and a series of “multibillion dollar customers” that would come on board for the next few months.
