Oracle Appoints Gen X and Millennial CEOs with $350 Million Stock Options to Lead AI Transformation

Oracle, one of the world’s leading enterprise software and cloud technology companies, has announced a historic leadership transition. Longtime CEO Safra Catz is stepping down, handing over the reins to two new leaders—Clay Magouyrk, 39, and Mike Sicilia, 54—who will serve as co-CEOs. This move marks a generational shift at the $920 billion tech giant, combining Magouyrk’s cloud-native expertise with Sicilia’s industry leadership to propel Oracle deeper into the AI-driven business era.

Magouyrk, a founding member of Oracle’s cloud engineering team and former Amazon Web Services engineer, was recently appointed President of Cloud Infrastructure. Sicilia, who joined Oracle after the acquisition of Primavera Systems, has held senior leadership roles across Oracle’s industry units and was named President of Industries earlier this year. Together, the duo represents Oracle’s strategic push to strengthen its cloud infrastructure, AI solutions, and enterprise software offerings.

To secure their long-term leadership, Oracle has awarded the Millennial-Gen X duo stock options worth $350 million—$250 million for Magouyrk and $100 million for Sicilia. These grants will vest over multiple years, with performance-based milestones ensuring that executives remain focused on boosting Oracle’s stock value, cloud revenue, and AI-driven innovation.

Outgoing CEO Safra Catz, who has led Oracle since 2014, will transition to Executive Vice Chair of the Board. She emphasized the timing as “ideal,” citing Oracle’s strong AI momentum and the importance of handing over leadership when the company is thriving. Oracle’s legendary co-founder Larry Ellison will continue as Chief Technology Officer and Board Chair, playing a key role in guiding the company’s ambitious AI initiatives.

“Oracle is entering the AI era. The scale of opportunity and responsibility is unprecedented,” Ellison told investors.

With this bold leadership shake-up, Oracle is signaling its intent to remain a global leader in cloud computing, artificial intelligence, and enterprise technology solutions, while ensuring stability through long-term executive incentives.