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3w ago

Oracle Installs Clay Magouyrk and Mike Sicilia as Co-CEOs; Safra Catz Becomes Executive Vice Chair

The shake-up elevates the executives running Oracle’s cloud infrastructure plus industry applications to accelerate its AI expansion.

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FILE - Oracle CEO Safra Catz smiles during a dinner with President Donald Trump in the State Dining Room of the White House, on Sept. 4, 2025, in Washington. (AP Photo/Alex Brandon, File)
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Departing Oracle CEO Safra Catz in Miami Beach, Florida in 2025.

Overview

  • Oracle reaffirmed guidance that Oracle Cloud Infrastructure booked revenue is expected to exceed half a trillion dollars, keeping projections for 77% growth to $18 billion this fiscal year and a multi‑year path toward $144 billion.
  • Magouyrk and Sicilia received large performance-linked stock option grants valued at $250 million and $100 million, respectively, with vesting tied to future results.
  • The company added Mark Hura as president of global field operations and named Doug Kehring principal financial officer, with Larry Ellison remaining chair and CTO.
  • Oracle recently reported a $455 billion contract backlog after signing four multibillion‑dollar cloud deals, with media reporting a $300 billion OpenAI compute agreement and a separate $20 billion Meta arrangement.
  • The move revives Oracle’s co‑CEO model as it pursues large AI data center buildouts and navigates execution risks following reported layoffs, including cuts in MySQL teams noted by industry outlets.