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September 22, 2025
Safra Catz Oracle: On Monday, Oracle revealed a major leadership shift. Clay Magouyrk, head of cloud infrastructure, and Mike Sicilia, who runs industries, have been elevated to co-CEOs.
Safra Catz, the longtime chief executive, will transition to executive vice chair on the board. Oracle has emerged as a big winner in the AI boom.
Its cloud network and exclusive access to Nvidia’s GPUs make it well-suited for running heavy workloads.
At the same time, it’s locked in an intense battle for customers with rivals like Microsoft, Amazon, and Google.
Clay Magouyrk drove the creation of Oracle’s Gen2 cloud platform during his time as infrastructure chief.
Mike Sicilia handled applications tailored to industries ranging from finance to retail. Despite their efforts, the stock dipped more than 1% in premarket trading on Monday.
Still, Oracle has seen a sharp rise—up 30% in the last month after forecasting major cloud gains from the AI surge.
Overall, the stock has jumped about 85% this year. Oracle announced that its remaining performance obligations hit $455 billion, marking a 359% increase from the previous year.
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This metric reflects revenue already contracted but not yet booked. On Monday, the company also reaffirmed its financial forecast.
Safra Catz was appointed co-CEO in 2014 alongside Mark Hurd after founder Larry Ellison stepped aside. When Hurd passed away in 2019, Catz took over as the company’s only CEO.
“Years ago, Clay and Mike made the call to steer Oracle’s infrastructure and applications toward AI. That move is clearly paying off,” Ellison said in a statement.
Oracle is also part of the Trump administration’s ongoing discussions about TikTok, as previously reported by CNBC.
TikTok’s status in the U.S. has been in question since 2024. That year, Congress approved a bill that could block the app.
The platform would face a ban unless its Chinese owner, ByteDance, separated from its U.S. operations.
On Saturday, White House press secretary Karoline Leavitt confirmed that Oracle will oversee TikTok’s data and privacy in the U.S. The app will be controlled by an investor group, including Oracle and Silver Lake.
Sources also told CNBC’s David Faber that Oracle will maintain its cloud services agreement with TikTok. Oracle is elevating two more leaders within the company.
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Mark Hura, who served as executive vice president of North America sales, will now lead as president of global field operations.
Doug Kehring, previously executive vice president of operations, has been named principal financial officer.
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