The change at the top of Oracle signals a redoubled effort in the company’s key areas of cloud and artificial intelligence. The co-CEO position, vacated by Safra Catz, will be taken over by Clay Magouyrk and Mike Sicilia – the architects of the Austin-based giant’s successful cloud strategy to date.
Catz, who has led the company’s transformation into a cloud powerhouse for 11 years, will remain on the board as executive vice-chair, ensuring continuity of vision.
These appointments are no accident. Market analysts see them as a formal consolidation of the cloud as a key growth driver for Oracle. Clay Magouyrk, who previously worked at Amazon Web Services, is responsible for Oracle’s core Cloud Infrastructure (OCI).
Mike Sicilia, in turn, oversees a portfolio of cloud applications and AI products running on that platform. Their joint leadership is expected to ensure consistency and accelerate the development of the offering, which has recently delivered unprecedented success for the company.
The decision is a natural consequence of outstanding performance. Over the past year, Oracle’s shares have risen by around 85%, outperforming competitors such as Microsoft and Alphabet.
This rally has been fuelled by high-profile contracts in the AI sector, which have cemented the company’s position as a leading provider of infrastructure for the most demanding computing workloads. Oracle has become the foundation for TikTok’s US operations and, according to unofficial reports, has won a huge order from ChatGPT developers OpenAI.
The handover of the helm is taking place in an evolutionary manner. Co-founder Larry Ellison remains as chief technology officer and Safra Catz’s presence on the board ensures strategic continuity.
For the market, this is a clear signal: Oracle is not changing course, but is confidently accelerating, putting the reins in the hands of the managers of its most promising and dynamic business. This strategic play is aimed at further strengthening the company’s position in the age of artificial intelligence.
