Oracle shifted to a co-CEO system to strengthen its artificial intelligence (AI) business.
Oracle said on the 23rd that it appointed Clay Magouyrk and Mike Sicilia as CEOs. Safra Catz, who has led the company since 2014, stepped down as CEO and moved to vice chair of the board.
Clay Magouyrk and Mike Sicilia are seen as leaders of the company's cloud infrastructure and industry-specific applications institutional sector.
Clay Magouyrk led the growth of Oracle Cloud Infrastructure (OCI). He joined Oracle from Amazon Web Services (AWS) in 2014, designed OCI Gen 2, and expanded the business. Mike Sicilia led Oracle's industry-specific applications institutional sector.
The new co-CEOs said, "In the AI era, we will integrate Oracle's databases, cloud infrastructure, and industry group applications so customers can immediately use the latest AI capabilities."
Safra Catz, who has served as Oracle CEO since 2014, said, "Oracle's technology and business are stronger than ever," and explained the reason for stepping down by saying, "Now is the right time to hand the CEO role to the next generation of leaders."
Alongside this, Marc Hura was promoted to president of global field operations, and Doug Kehring was promoted to chief financial officer.
Chairman and CTO Larry Ellison said, "The world is investing heavily in the AI race, and Oracle Cloud Infrastructure is playing an important role in this competition," adding, "Magouyrk and Sicilia are leaders who have proven results by shifting infrastructure and applications to an AI focus."