Oracle appointed two new presidents, Clay Magouyrk (cloud boss) and Michael Sicilia (head of industries), as revealed in SEC filings. This move is seen as part of a succession plan for Oracle's executive chairman and CTO, Larry Ellison, who isn't currently stepping down. The two-president structure has been used previously at Oracle, mirroring a pattern before Ellison's previous CEO departure. The appointments come as Oracle enjoys a surge in popularity and record-high share prices.

Prepared by Christopher Adams and reviewed by editorial team.