Oracle Shakes Up Leadership: Appoints Co-CEOs as Catz Steps Down Amid Aggressive AI Expansion

Oracle doubles down on artificial intelligence with leadership overhaul.

Strategic Pivot

The software giant names dual chief executives to replace Safra Catz, signaling intensified focus on machine learning infrastructure. New leadership inherits a company betting its future on cloud-based AI services.

Market Positioning

Oracle races to capture enterprise AI market share against cloud rivals. The co-CEO structure aims to accelerate decision-making while maintaining operational stability during transition.

Financial analysts note the timing—because nothing says 'confident growth strategy' like splitting the captain's role while navigating AI hype waters.

KEY TAKEAWAYS

• Oracle Monday named two new co-CEOs, including the former head of its cloud infrastructure business, to take over from Safra Catz as the software firm boosts its bets on AI.
• Oracle said Monday that Clay Magouyrk, president of Oracle’s cloud infrastructure business, and Mike Sicilia, president of Oracle Industries, will be co-CEOs.
• Oracle shares have surged this year as the AI boom boosted its cloud computing business.

Oracle (ORCL) Monday named two new CEOs, including the former head of its cloud infrastructure business, to take over from Safra Catz as the software firm boosts its bets on AI.

Oracle said Monday that Clay Magouyrk, president of Oracle’s cloud infrastructure business, and Mike Sicilia, president of Oracle Industries, will be CEOs. Catz, who has been CEO of the firm since 2019 and was named co-CEO in 2014, will shift to a role as executive vice chair of the software company.

Oracle shares have surged this year as the artificial intelligence (AI) boom boosted its cloud computing business, with the company recently saying that its backlog swelled to $455 billion after it signed four multibillion-dollar cloud deals in its fiscal first quarter.

"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,” co-founder Larry Ellison said Monday.

Ellison has also been touted as a member of a U.S. investor group that will control the U.S. operations of Chinese-owned ByteDance, TikTok's parent company.  

Oracle shares are gaining 3% in intraday trading Monday and have gained 90% so far this year.