Oracle Names Dual CEOs to Lead AI Expansion

Oracle Corporation announced on September 22, 2025, the promotion of Clay Magouyrk and Mike Sicilia to co-chief executive officers, as part of a strategic leadership transition to capitalize on the company’s explosive growth in artificial intelligence and cloud computing. Current CEO Safra Catz will assume the role of executive vice chair of Oracle’s board of directors, ensuring continuity and institutional knowledge.

Leadership Transition Amid Record Growth

The timing follows Oracle’s fiscal first-quarter report on September 9, which revealed $455 billion in remaining performance obligations—a 359% year-over-year increase. Oracle’s stock jumped 36% post-earnings, adding $244 billion in market capitalization and bringing the company close to the $1 trillion valuation mark. Chairman and CTO Larry Ellison credited Catz with guiding Oracle to hyperscale cloud success: “Safra led Oracle as we became a hyperscale cloud powerhouse—clearly demonstrated by our recent results” .

Strategic Focus on AI Infrastructure and Applications

The co-CEO structure leverages complementary expertise to drive Oracle’s AI ambitions:

• Clay Magouyrk (joined from AWS in 2014) oversaw Oracle Cloud Infrastructure’s evolution into a premier platform for AI training and inference. Under his leadership, Oracle secured major contracts, including 4.5 gigawatts of data center capacity for OpenAI .
• Mike Sicilia (acquired via Primavera Systems) modernized Oracle’s vertical industry applications by embedding AI agents across sectors—healthcare, banking, communications, utilities, hospitality, and retail—pioneering intent-based application generation to replace traditional coding .

In a joint statement, Magouyrk and Sicilia said, “We are excited to lead Oracle into the AI era, where technological innovation leads to extraordinary business opportunity and hyper-growth.”

Additional Executive Promotions and Guidance

Alongside the co-CEO appointments, Oracle promoted Mark Hura to president of global field operations and Doug Kehring to principal financial officer. The company reaffirmed its guidance for $18 billion of cloud infrastructure revenue in fiscal 2026, targeting growth to $144 billion by fiscal 2030 .

This leadership realignment positions Oracle to harness its record financial momentum and institutional expertise, driving aggressive expansion in AI-driven cloud services under seasoned executives dedicated to sustaining the company’s rapid growth trajectory.

PR Newswire: Oracle Corporation Announces Promotion of Clay Magouyrk and Mike Sicilia to CEOs; Safra Catz Appointed Executive Vice Chair of the Board of Directors