Oracle Promotes Two Presidents to Co-CEO, Boosts AI Infrastructure Leadership

Oracle has announced a significant restructuring of its executive team, promoting two of its presidents to serve as co-chief executive officers. This move is part of the company's strategy to solidify its leadership in the artificial intelligence infrastructure sector. The two individuals promoted to the co-CEO positions are the current presidents of Oracle's cloud infrastructure business and industry business, respectively.

The first co-CEO, who has been with Oracle since 2014, joined the company from Amazon Web Services and is a founding member of Oracle's cloud engineering team. This individual has served as the president of Oracle's cloud infrastructure business for over a decade. The second co-CEO, who has been with Oracle since 2008, joined the company through its acquisition of Primavera Systems and has held various positions within the organization. This individual was appointed as the president of Oracle's industry business in June of this year.

Safra Catz, who has served as Oracle's CEO since 2014, will transition to a new role as the executive vice chairman of the board. In a statement, Catz expressed pride in Oracle's recognition as the preferred cloud service provider for AI training and inference. She highlighted the company's strong technology and business, as well as its impressive growth rate, which indicates a prosperous future. Catz believes that the current strength of the company makes it the ideal time to pass the CEO role to the next generation of capable executives.

While Oracle is traditionally known as a cloud infrastructure provider, the company has recently been focusing on establishing its position in the AI infrastructure sector. Earlier this year, Oracle announced its participation in the "Star Gate" project, a 500 billion dollar initiative in collaboration with OpenAI and SoftBank. The project aims to build data centers and AI infrastructure in the United States. Additionally, Oracle has signed a landmark agreement with OpenAI to provide 300 billion dollars worth of computing power support. More recently, there have been reports of Oracle negotiating another significant computing power agreement with Meta, valued at 20 billion dollars.

This restructuring of Oracle's executive team underscores the company's commitment to maintaining its leadership in the cloud infrastructure sector while expanding its presence in the AI infrastructure market. By promoting two experienced executives to co-CEO positions, Oracle aims to leverage their expertise and vision to drive the company's growth and innovation in these critical areas. The transition of the CEO role to the next generation of leaders also signals Oracle's confidence in its future prospects and its ability to continue delivering value to its customers and stakeholders.