- Oracle says that Safra Catz will leave his role as CEO, but remains as EVC on the board
- Clay Magouyrk and Mike Sicily designated as co-ceos
- Oracle is configured for “hyper-creation” as the raft of new agreements approaches
Oracle has appointed two new co-cemeans after the cloud giant confirmed the departure of former Sofra Catz leader.
Former presidents Clay Magouyrk and Mike Sicily will assume the position of the new bosses of the company, which seems to benefit from a large number of new important agreements.
“A few years ago, Clay and Mike committed infrastructure businesses and Oracle to IA applications, which is paying off,” said the president of the Board and Cto Larry Ellison. “Both are proven leaders, and I am anxious to spend the next years working next to them.”
Safra Catz gives way to two co-ceos
Catz will not leave Oracle and move to the Board of Directors as Executive Vice President after a decade that serves as CEO, saying that now the right time to deliver leadership in the next generation.
As part of the shaking, Oracle confirmed some other roles changes, including the appointment of Mark Hura as president for global field operations and the Doug Kehring promotion to the main financial director.
Ellison served as CEO of Oracle from 1977 to the Catz event in 2014.
Oracle closed the 2014 calendar year with a price of shares of $ 38.19, but prices have increased to $ 328.15 today under Catz’s leadership.
“Our combined strengths in AI, cloud infrastructure, horizontal applications and industry applications, will allow Oracle to offer the latest capabilities of AI to our customers,” Magouyrk and Sicily said in a joint statement, referring to “hyper growth” and more commercial opportunities in the future.
Uniting Oracle in 2014 as AWS as a software development engineer, Magouyrk was responsible for OCI Gen2. Sicily moved to Oracle when the company acquired Spring Systems in 2008, leading the development of applications with AI through medical care, banking, communications, hospitality, retail trade and more.
Oracle recently announced an increase of 12% year after year in quarterly revenues to $ 14.9 billion and a series of “multimillionaire customers” that will be made in the coming months.
