Oracle promotes two presidents to co-CEO role

Oracle is shaking up its executive suite as it sets its sights set on AI infrastructure dominance. The company announced Monday that it is promoting Clay Magouyrk and Mike Sicilia to co-CEO roles.  

Magouyrk joined Oracle in 2014 from Amazon Web Services. He was a founding member of Oracle’s cloud engineering team and has served as the president of Oracle’s cloud infrastructure business unit for more than a decade.  

Sicilia has served as the president of Oracle’s industries division since June. He held several different roles at the company since he joined through Oracle’s acquisition of project portfolio management company Primavera Systems in 2008.  

Safra Catz, who has been Oracle’s CEO since 2014, is moving into a new role as the executive vice chair of Oracle’s board of directors.  

“Today, Oracle is recognized as the cloud of choice for both AI training and inferencing. I’m very proud of that,” Catz said in a statement. “Oracle’s technology and business have never been stronger. And our breathtaking growth rate points to an even more prosperous future. At this time of strength is the right moment to pass the CEO role to the next generation of capable executives.”  

While traditionally known as a cloud infrastructure provider, Oracle has recently started to cement its place in the AI infrastructure race as well. Earlier this year, the company announced its participation in the $500 billion Stargate Project, alongside OpenAI and SoftBank, to build data centers and AI infrastructure in the U.S.  

Earlier this month, it was reported that the company inked a landmark deal with OpenAI to supply the AI company with $300 billion worth of compute. On Friday, Reuters reported that the company was signing a smaller — but still sizable — $20 billion compute deal with Meta.  

TechCrunch reached out to Oracle for more information on the transition.