Oracle Names Two Presidents as New Co-CEOs
▼ Summary
– Oracle has promoted Clay Magouyrk and Mike Sicilia to co-CEO roles as part of an executive suite shakeup.
– Clay Magouyrk, a former AWS employee, has been with Oracle since 2014 and was president of its cloud infrastructure unit.
– Mike Sicilia, who joined via an acquisition in 2008, was most recently the president of Oracle’s industries division.
– Safra Catz, CEO since 2014, is moving to the role of executive vice chair of Oracle’s board of directors.
– This leadership change coincides with Oracle’s major push into AI infrastructure, including large deals with OpenAI and Meta.
Oracle has initiated a significant leadership transition, appointing two company presidents to serve as co-CEOs as the technology giant aggressively pursues leadership in the AI infrastructure market. The promotions of Clay Magouyrk and Mike Sicilia signal a strategic shift for the company during a period of rapid expansion in artificial intelligence.
Clay Magouyrk, who originally came to Oracle from Amazon Web Services back in 2014, was a foundational member of the cloud engineering team. For over ten years, he has led the Oracle Cloud Infrastructure business unit as its president. Mike Sicilia, who currently serves as the president of Oracle’s industries division, has a long history with the company dating back to its acquisition of Primavera Systems in 2008, where he has since held numerous executive positions.
This move sees Safra Catz, Oracle’s CEO since 2014, stepping into a new role as the executive vice chair of the board of directors. In a public statement, Catz expressed confidence in the company’s trajectory, noting, “Oracle is recognized as the cloud of choice for both AI training and inferencing. I’m very proud of that. Our technology and business have never been stronger. And our breathtaking growth rate points to an even more prosperous future. At this time of strength is the right moment to pass the CEO role to the next generation of capable executives.”
While Oracle has long been a major player in cloud infrastructure, its ambitions now clearly extend to dominating the AI infrastructure landscape. Earlier this year, the company joined the massive $500 billion Stargate Project alongside OpenAI and SoftBank, a collaborative effort focused on constructing advanced data centers and AI infrastructure within the United States.
The company’s momentum in this sector continues to build. Reports surfaced earlier this month detailing a landmark arrangement where Oracle will supply OpenAI with compute resources valued at a staggering $300 billion. More recently, news broke of another significant agreement, a $20 billion compute deal with Meta, further cementing Oracle’s position as a critical infrastructure partner for leading AI firms. TechCrunch has contacted Oracle for additional comments regarding this executive transition.
(Source: TechCrunch)
