Oracle Corporation has announced the promotion of Clay Magouyrk and Mike Sicilia to co-CEOs, succeeding Safra Catz, who becomes Executive Vice Chair of the Board. Both Magouyrk and Sicilia, with extensive backgrounds in cloud infrastructure and industry applications, aim to lead Oracle into the AI era, enhancing its capabilities in artificial intelligence across various sectors. Additionally, the company has made other executive promotions to strengthen its leadership team.