Cloud services giant Oracle has announced a major leadership transition, elevating Clay Maguirk, President of Cloud Infrastructure, and Mike Sicilia, President of Industry, to the roles of co-CEOs. Meanwhile, former CEO Safra Catz will shift her focus to serving as Vice Chair of the Board. Oracle founder Larry Ellison highlighted that Clay and Mike’s strategic decision years ago to pivot the company’s focus toward the AI sector has now yielded significant returns. Catz emphasized that Oracle is currently in a robust position, making it an opportune moment to pass the CEO responsibilities to the next generation of skilled leaders.