Oracle Executive Change-Up: 5 Things To Know

New Oracle co-CEOs take over amid high expectations for revenue delivery in the AI era.

Oracle’s new co-CEO era comes as the vendor sets out to exceed $500 billion in pipeline and then convert that backlog into revenue, previously forecasting the amount of revenue to hit $144 billion in the 2030 fiscal year.

The two new CEOs, Clay Magouyrk and Mike Sicilia, bring decades of experience across AI, cloud infrastructure, industry-focused technology and platform integration. Their ascension also marks the end of Oracle’s Safra Catz era.

Longtime watchers of the Austin, Texas-based database and cloud product vendor will recall that the company previously operated under a co-CEO model. Outgoing CEO Catz shared the title with Mark Hurd from 2014 until 2019, when Hurd stepped down for health reasons and died that year.

Oracle Promotes New CEOs

The ascension of Catz and Hurd also marked the end of Oracle co-founder Larry Ellison’s time as CEO. He has held the title of CTO and executive chairman since.

Catz, who has held the CEO title since 2014, takes on the role of executive vice chair at Oracle. The vendor also reaffirmed its expected financial performance laid out on its latest quarterly earnings call, held this month.

In a note Monday, investment firm Bernstein praised the executive shuffles for bringing representation of key business to the executive level. The new CEOs’ engineering experience should also keep innovation at the forefront as the vendor navigates the era of artificial intelligence and AI agents.

The new CEOs have room to bring the vendor’s operating margins down into the 30 range, Melius Research said in its own note on the executive shuffles Monday. They will also have to maintain healthy cash flow as Oracle increases capital expenditure to meet growing AI demand.

Oracle’s $8.5 billion CapEx came in 55 percent higher than the investment firm expected. The company raised its expected CapEx for the year by $10 billion to $35 billion, up 65 percent year on year. The company also maintained the amount of revenue and 16 percent growth year on year it expects to make for the 2026 fiscal year despite the excitement around its $500 billion backlog, according to Melius.

As for revenue, the firm said in its Monday report that it actually expects Oracle to raise the amount of revenue it expects in 2030 from $144 billion to something closer to $200 billion at its analyst day Oct. 16.

Here’s more of what you need to know about the executive changes at Oracle.

Catz ‘Instrumental’ As CEO

Catz has been “instrumental in navigating Oracle through the Cloud transition and maintaining the financial discipline,” Bernstein said in a Monday note.

She will also no longer serve as principal financial officer, Oracle said in a regulatory filing.

The firm expects Catz to take a similar role to vice chairman Jeff Henley, who previously served as Oracle’s CFO from 1991 to 2004.

Henley stayed involved in the business and with clients even on the board, according to the report. “We believe that the combination of retaining and leveraging the long-term management knowledge and expertise while placing individuals with substantial capabilities to execute is a very positive.”

Catz joined Oracle in 1999 as senior vice president and drove the vendor’s $10.6 billion takeover of PeopleSoft, according to an article in the Wharton School of the University of Pennsylvania’s magazine. She became co-president in 2004, then CFO in 2006.

Before coming to Oracle, she ran the software business at investment bank Donaldson, Lufkin & Jenrette.

Magouyrk Has Infrastructure Chops

Magouyrk, 39, previously served as president of Oracle Cloud Infrastructure, joining the company in 2014 from Amazon Web Services.

He is expected to continue leading the OCI business, according to Bernstein’s Monday report.

He was a software development engineer at Amazon for about six years, according to his LinkedIn account.

As a founding member of Oracle’s cloud engineering team, Magouyrk has overseen the design and implementation of the second generation of OCI. Gen2 is a high-performance platform that powers both hyperscale public cloud data centers and gigawatt-scale AI training data centers.

Sicilia Brings Industries Expertise

Sicilia was named president of Oracle industries in June. Before that, he held the title of executive vice president of the industries division for about seven years.

The industries he focused on include communications, restaurants, health care, life sciences, local government and utilities, according to Sicilia’s LinkedIn account.

Sicilia, 54, had been leading application modernization efforts at Oracle, according to a Monday report by Bernstein. The firm expects him to continue driving the app side of the business and convergence of apps and AI.

He has also served a key role in integrating Oracle acquisition Cerner, according to a Monday report by KeyBanc. The investment firm also praised the executive changes and co-CEO structure.

“Both will look to bring together all aspects of the business across cloud infrastructure and applications to lead Oracle into the next stages,” according to KeyBanc.

He joined Oracle through its acquisition of project portfolio management application provider Primavera Systems in 2008. Sicilia had served as CTO of Primavera.

Sicilia’s engineering teams pioneered the use of intent-based application generation to replace traditional coding for building Oracle applications. His teams also added sophisticated sets of AI Agents to Oracle’s industry application suites—including health care, banking, communications, utilities, hospitality and retail.

New Field Operations President

Amid the executive shuffling, Oracle also named a new president of field operations and a new principal financial officer.

Mark Hura took on the president role after serving as executive vice president of North America sales for about four months.

Before that, Hura was executive vice president of North America cloud infrastructure and technology for about four years, according to his LinkedIn account. His experience cuts across applications, data platform and OCI.

He came to Oracle in 2013 after working at General Electric for about 17 years, according to Hura’s LinkedIn. He left GE with the title of general manager of sales for the North American digital energy business.

New Principal Financial Officer

Doug Kehring takes over the principal financial officer role Catz held after serving as executive vice president of operations since 2015.

In that role, he “was responsible for accelerating the growth of Oracle's revenue, driving customer success, championing employee happiness, and delivering on operational efficiency,” according to his LinkedIn account.

Kehring, 52, was Oracle’s senior vice president of corporate development and strategic planning from 2005 until 2015. He joined the vendor in 2000.

As principal financial officer, Kehring will oversee accounting, tax, treasury, investor relations, internal auditing, financial planning and analysis and other finance functions, according to his LinkedIn account.

Kehring “also manages the partnership organization that unites and supports the activities of Oracle’s field to augment the Oracle ecosystem and help every customer achieve an amazing experience,” according to his LinkedIn.