Oracle appoints insiders Clay Magouyrk, Mike Sicilia as co-CEOs in surprise move

Oracle on Monday named insiders Clay Magouyrk and Mike Sicilia as co-CEOs, replacing Safra Catz, who was named vice chair of the board after 11 years at the helm.

Catz, who will continue as a director on Oracle’s board, was instrumental in shaping the company’s AI strategy, helping it win some of the biggest multi-year contracts for data centers and cloud services from top industry players.

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