Pins matching tag:"Doug Kehring"

Oracle promoted cloud chief Clay Magouyrk and industries chief Mike Sicilia to joint chief executives, ending Safra Catz's 11 years as CEO; she became executive vice chair of the board.

At its financial analyst meeting during Oracle AI World in Las Vegas, Oracle set fiscal 2030 targets of $225 billion of revenue and $21 of adjusted EPS, with cloud infrastructure revenue reaching $166 billion.

Oracle's backlog rose $68 billion to $523 billion on new commitments from Meta and NVIDIA, but revenue came in below forecasts and the shares fell 11% after hours; a $2.7 billion gain on selling its Ampere stake lifted earnings.

Oracle named Schneider Electric finance chief Hilary Maxson its chief financial officer to fund and run the capital-hungry AI cloud build-out, taking over from principal financial officer Doug Kehring.