Oracle announced on Monday (22) the promotion of Clay Magouyrk, president of cloud infrastructure, and Mike Sicilia, president of industries, as co-ceos of the company.
The current CEO, Safra Catz, will act as executive vice president of the company’s board, while Larry Ellison will continue as chairman of the board and director of technology.
The change in leadership occurs at a time of strong growth for Oracle, driven by the Boom of Artificial Intelligence (AI) and increased demand for cloud services.
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The company has benefited from access to Nvidia’s Graphic Processing Units (GPUS), essential to running large AI workloads, competing directly with giants such as Microsoft, Amazon and Google.
Clay Magouyrk led the development of Oracle’s Gen2 Gen2 Platform, while Mike Sicilia has supervised the company’s applications to vertical sectors such as seats and retail.
Larry Ellison pointed out that the commitment of the two executives to AI has brought significant results to the company.
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Oracle shares rose about 3% on Monday morning, reflecting the optimism of the market.
Last month, the company’s shares advanced 30%, driven by robust growth projections in the cloud area, with an increase of approximately 85% in the year.
In addition to the nomination of co-ceos, Oracle also promoted other executives for strategic positions.
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The company continues to invest in partnerships and contracts, such as the recent agreement of US $ 300 billion with OpenAi, scheduled to start in 2027.
