Oracle Names Hilary Maxson as New Chief Financial Officer

Oracle Corp. Names New Chief Financial Officer

Oracle Corp. has appointed Hilary Maxson, most recently an executive at Schneider Electric SE, as its new chief financial officer. This move comes after Safra Catz stepped down as chief executive officer and principal financial officer last fall. Maxson's hire is effective immediately and she will report to Clay Magouyrk, one of the company's two CEOs.

Maxson will be taking over the role from Doug Kehring, who had been serving as principal financial officer since Catz stepped aside and Oracle appointed the new chief executives. Oracle has made significant investments in artificial intelligence infrastructure, with deals in place with customers such as OpenAI, the creator of ChatGPT, and Meta Platforms Inc.

The company's focus on AI has led to success in providing data centers and equipment necessary for training and deploying AI models. However, Oracle shares have been impacted by fears of an AI bubble, with the stock down about 25% so far this year.

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Prior to joining Oracle, Maxson served as executive vice president and group chief financial officer at Schneider Electric, a position she held since 2017. The news of Maxson's appointment briefly impacted Oracle shares in premarket trading, but the stock was little changed at about 8:45 a.m. in New York.

Oracle's Recent Share Performance

Note: The share performance figures are based on the information provided and may not reflect the company's current stock price.

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