Oracle Elevates Two Presidents to Co-CEOs

Oracle is reshaping its executive team to lead in the field of AI infrastructure. The company announced on Monday that Clay Magouyrk and Mike Sicilia will be promoted to co-CEOs.

Magouyrk joined Oracle from Amazon Web Services in 2014. He became one of the founding members of Oracle’s cloud engineering team and has served as president of Oracle’s cloud infrastructure business division over the past decade.

Sicilia has served as president of Oracle’s industry business division since June this year. Since joining the company in 2008 through Oracle’s acquisition of project management software provider Primavera Systems, he has held a variety of roles within the organization.

Safra Catz, who has served as Oracle’s CEO since 2014, will transition into a new role as executive vice chairman of Oracle’s board.

“Today, Oracle is widely recognized as the preferred cloud platform for AI training and inference, and I am incredibly proud of that,” Catz stated. “Oracle’s technology and business have never been stronger. Our impressive growth rate signals a more prosperous future ahead. At this strong moment, it is the right time to pass the CEO role to the next generation of capable executives.”

Although traditionally seen as a cloud infrastructure provider, Oracle has recently been strengthening its position in the AI infrastructure race. Earlier this year, the company announced its involvement in the $500 billion SAGA project alongside OpenAI and SoftBank, aiming to build data centers and AI infrastructure across the United States.

Earlier this month, reports indicated that the company signed a landmark $300 billion agreement with OpenAI to supply computing resources to AI startups. On Friday, Reuters reported that Oracle is finalizing another notable $20 billion computing deal with Meta.