Oracle has named Clay Magouyrk and Mike Sicilia as CEOs, with current CEO Safra Catz becoming executive vice chair of the technology company’s board.Oracle said Monday that Magouyrk previously served as president of Oracle Cloud Infrastructure.

Oracle named insiders Clay Magouyrk and Mike Sicilia as co-CEOs on Monday, replacing Safra Catz, who was at the helm of the cloud services provider for 11 years. Catz will remain with the company as vice chair of the board.

CEOs Clay Magouyrk and Michael Sicilia will take over for Safra Catz, who will take on a new role as executive vice chair of the board.

Stargate, a joint venture between OpenAI, Oracle and Softbank, said it is building two more data center complexes in Texas, one in New Mexico, one in Ohio and another in a Midwest location it hasn’t yet disclosed.

Oracle on Monday named insiders Clay Magouyrk and Mike Sicilia as co-CEOs, replacing Safra Catz, who was instrumental in shaping the company's cloud strategy and thrusting it to the forefront of the ongoing AI boom with big contract wins.

Business Insider reported in June that Oracle had promoted the executives to the title of "president" as part of a succession plan.

Clay Magouyrk, who led Oracle Cloud Infrastructure (OCI), and Mike Sicilia, president of Oracle Industries, will now serve as co-CEOs. Current CEO Safra Catz will transition to the role of executive vice chair on the board. Take advantage of TipRanks ...

Cloud and apps chiefs step up as Safra Catz moves upstairs. Larry remains Larry Oracle on Monday named Clay Magouyrk and Mike Sicilia as its new co-chief executives, replacing Safra Catz, who will shift into the role of executive vice chair of the board after more than a decade as top dog.