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.

Magouyrk and Sicilia are succeeding longtime CEO Safra Catz, who is moving to the role of executive vice chair. Oracle’s chair is founder Larry Ellison, who held the CEO post for more than three decades before stepping down in 2014. He is also the company’s chief technology officer.

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.

Magouyrk, who joined Oracle in 2014 from Amazon Web Services, has been leading its cloud infrastructure division one of the company's main growth engines. Sicilia, who came through the Primavera Systems acquisition,

Oracle (ORCL) made several management changes on Monday, including naming new CEOs and an Executive Vice Chair of its board of directors. Read for more.

Oracle Corp. on Monday promoted Clay Magouyrk and Mike Sicilia to become co-chief executive officers, signaling the company’s focus on its rapidly expanding cloud computing business.

Oracle Corporation (NYSE: ORCL) today announced the promotion of Clay Magouyrk and Mike Sicilia to the roles of Chief Executive Officers.

Oracle on Monday named insiders Clay Magouyrk and Mike Sicilia as co-CEOs, replacing Safra Catz who was named vice chair of the board after 11 years at the helm. Catz steered Oracle through an industry-wide shift,

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