Oracle splits CEO role as Safra Catz steps down

Oracle’s Safra Catz is stepping down as chief executive, with the US software group splitting the role between two top lieutenants, as it accelerates its shift into the infrastructure powering the artificial intelligence boom. The role will be shared by Clay Magouyrk, president of Oracle’s cloud infrastructure business, and Oracle Industries President Mike Sicilia. Ms. Catz will remain with Oracle as vice chair of the board. “Investors are already familiar with both Mr. Magouryk and Mr. Sicilia and that their promotions solidify the importance of the Cloud and Industry businesses as the growth levers for the company,” Evercore ISI analysts said in a note. “The bottom line is that with Larry remaining at CTO and Safra as Executive Vice Chair, we expect a smooth transition in the near-term.”