Oracle introduced that longtime CEO Safra Catz will likely be changed by two new inner hires: Clay Magouyrk, 39, and Mike Sicilia, 54. The outgoing CEO described the 2 as “a match made in heaven”—two technical executives who can additional propel Oracle into the AI period.
The transfer will marry veteran trade management from Sicilia with youthful cloud-native experience in Magouyrk. The latter is a founding member of the $920 billion tech agency’s cloud engineering group and Oracle named him president of cloud infrastructure in June 2025. Earlier than becoming a member of Oracle in 2014, Magouyrk was a senior engineer at Amazon and Amazon Net Providers. Sicilia joined Oracle after it acquired Primavera Programs in 2008, the place Sicilia was chief expertise officer. He later served as government vp in Oracle’s industries unit and in its world enterprise items. In June, Oracle named him president in industries.
“I’m really looking forward to this stage,” mentioned Catz throughout an investor name on Monday. “But it is absolutely time. You want to make a transition like this when things are great and when I’m handing it to two of the guys—actually a whole team—that brought Oracle here. This is ideal.”
In reference to their promotions, Oracle will give its Millennial and Gen X duo inventory possibility grants valued at $250 million for Magouyrk and $100 million for the Sicilia. The management shakeup may also see Douglas Kehring promoted to principal monetary officer at Oracle within the place of Catz. Oracle chief expertise officer Larry Ellison will retain his CTO title and function as board chair.
“The company is being recognized as an innovator and leader in AI and our momentum has been nothing less than spectacular—and it’s only the beginning,” Catz instructed traders. “With this success in mind, Larry and I thought timing was perfect to recognize and promote several executives who have not only been instrumental in helping pivot the company, but who will be critical to leading us as we move forward.”
With the large inventory possibility grants, Oracle is incentivizing Magouyrk and Sicilia to stick with Oracle till not less than 2029, with 80% of every grant vesting over 4 years. The remaining 20% will vest over a three-year interval however they have to obtain particular income metrics for the efficiency choices to vest, though Oracle didn’t touch upon or disclose the precise metrics. The grants will solely repay if Oracle’s inventory value rises. An Oracle spokesperson declined to touch upon the disparity of the grants between Magouyrk and Sicilia.
“Oracle is entering the AI era. I’ve never seen an opportunity on this scale before,” Ellison instructed traders on Monday. “The immense impact of AI across our economy is hard to grasp. The colossal size of the AI endeavor and the colossal size of the responsibility that goes along with it is difficult to imagine.”
Catz, in the meantime, will tackle a brand new function as government vice chair of the board. She has served as CEO of Oracle since 2014, when the board appointed Ellison chairman and CTO and named Catz and the late Mark Hurd as co-CEOs. Hurd took a depart of absence in 2019 and he died shortly after. Ellison didn’t identify a co-CEO to exchange Hurd.
On Monday, Catz mentioned the timing for the CEO transition was optimum. Catz is at the moment within the means of speaking with Oracle prospects and “introducing them to Clay and Mike” in the event that they don’t know them already, she mentioned.
“Safra led Oracle as we became a hyperscale cloud powerhouse—clearly demonstrated by our recent results,” Ellison mentioned in an announcement. “In her role as Vice Chair, Safra and I will be able to continue our 26-year partnership—helping to guide Oracle’s direction, growth and success.”
Oracle’s inventory is up 98% 12 months up to now, and earlier this month introduced cloud infrastructure revenues have been up 55% to $3.3 billion and that its pending contracts had ballooned 359% to $455 billion. Oracle instructed traders it had signed 4 multi-billion {dollars} contracts with three prospects in a single quarter. The corporate projected 77% development to $18 billion for cloud infrastructure income in fiscal 12 months 2026 and a bullish fiscal 2030 projection of $144 billion. The corporate is internet hosting a significant occasion subsequent month in Las Vegas referred to as “Oracle AI World” to exhibit its new merchandise.
“A few years ago, Clay and Mike committed Oracle’s Infrastructure and Applications businesses to AI—it’s paying off. They are both proven leaders, and I am looking forward to spending the coming years working side-by-side with them,” Ellison mentioned. “Oracle’s future is bright.”
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