Particle News: Oracle Elevates Clay Magouyrk and Mike Sicilia to Co-CEOs as Safra Catz Becomes Executive Vice Chair

Overview

Oracle reiterated prior guidance that Oracle Cloud Infrastructure booked revenue is expected to exceed $500 billion.
Shares fell just over 1% in premarket trading following the leadership announcement.
Magouyrk previously led Oracle Cloud Infrastructure, and Sicilia ran Oracle’s industry-focused applications, including Oracle Health.
Magouyrk joined Oracle in 2014 from Amazon Web Services, while Sicilia arrived through the Primavera Systems acquisition.
Safra Catz ends an approximately 11-year tenure as CEO as she moves to executive vice chair of the board.