Oracle Appoints Clay Magouyrk, Mike Sicilia As Co-CEOs: Report

Oracle Corp. (ORCL) has reportedly appointed Clay Magouyrk and Mike Sicilia as the co-CEOs of the company, with Safra Catz transitioning to the role of executive vice chair of its board of directors. Catz has led the company since 2014.

“A few years ago, Clay and Mike committed Oracle’s Infrastructure and Applications businesses to AI—it’s paying off,” said Larry Ellison, Oracle’s chairman.

Oracle’s shares were up nearly 1% in Monday’s opening trade. Retail sentiment on Stocktwits around the company was in the ‘extremely bullish’ territory.

Magouyrk has been with Oracle for 11 years and previously led Oracle Cloud Infrastructure (OCI). He oversaw the design and implementation of OCI Gen2, which powers hyperscale public cloud datacenters and gigawatt-scale AI Training data centers, the company said.

Sicilia led Oracle Industries, and his team added AI Agents across the company’s application suites, including healthcare, banking, communications, utilities, hospitality, and retail.

“Today, Oracle is recognized as the cloud of choice for both AI training and inferencing. I'm very proud of that. Oracle's technology and business have never been stronger. And our breathtaking growth rate points to an even more prosperous future,” said Catz, adding that this is the right moment to pass the torch.

Oracle also reaffirmed the financial guidance it provided during its first-quarter (Q1) earnings call. The company guided for second-quarter (Q2) revenue growth of 14%-16%, and cloud revenue growth of 33%-37%. It forecasted Q2 earnings per share (EPS) in the $1.61 to $1.65 range, compared to analyst expectations of $1.64, according to Stocktwits data.

Also See: Gold Prices Hit New Record High, Analyst Says Further Hint Of Rate Cuts Could Add To Yellow Metal’s Shine: Report

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