Oracle has appointed Clay Magouyrk and Mike Sicilia as co-CEOs, marking a shift in focus towards its cloud computing business. Magouyrk, a pioneer at Oracle Cloud Infrastructure, and Sicilia, former president of Oracle Industries, will lead amidst Oracle's aggressive investments aimed at boosting cloud revenues. Following Safra Catz's tenure since 2014, she transitions to executive vice chair. Notably, Magouyrk will receive a $250 million stock package, reflecting Oracle's commitment to innovation and growth in cloud services.