Oracle Corp. on Monday named Clay Magouyrk and Mike Sicilia as joint chief executive officers, while longtime CEO Safra Catz will transition to executive vice chair of the board.
Magouyrk, a 11-year veteran of Oracle, was previously president of Oracle Cloud Infrastructure.
Sicilia most recently served as president of Oracle Industries, where his work included applied artificial intelligence initiatives.
“A few years ago, Clay and Mike committed Oracle’s Infrastructure and Applications businesses to AI—it’s paying off,” said chairman Larry Ellison in a statement.
“They are both proven leaders, and I am looking forward to spending the coming years working side-by-side with them. Oracle’s future is bright.”
Shares of Oracle slipped 1.3% in premarket trading in New York following the announcement.
This is a developing story.
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