Oracle has announced two new presidents in what could be part of a succession plan for the cloud computing giant. According to Securities and Exchange Commission filings, cloud boss Clay Magouyrk and head of industries Michael Sicilia have each been given the title of ‘president.’ This marks a change from their previous roles, though the forms do not explicitly state it as a promotion. These executives are seen as part of the succession strategy for the company co-founded by billionaire Larry Ellison, who now serves as chief technology officer and executive chairman. Oracle has used a dual-president structure three times in its history, most recently leading to Safra Catz becoming the sole CEO. Magouyrk, a former Amazon engineer, and Sicilia, who leads Oracle’s takeover of Cerner, will help guide Oracle’s growth in the cloud-computing market. Oracle’s shares hit a record high this week following strong financial results.
— new from Business Insider
