Oracle appoints insiders Clay Magouyrk, Mike Sicilia as co-CEOs

(Reuters) -Oracle on Monday named insiders Clay Magouyrk and Mike Sicilia as co-CEOs, with current company chief Safra Catz being appointed as executive vice chair of the board.

Shares of the company were down nearly 0.7% in premarket trading.

Clay Magouyrk, who joined Oracle in 2014 from Amazon Web Services, was previously president of the Oracle Cloud Infrastructure division.

Mike Sicilia was formerly president of the Oracle Industries unit. He had joined Oracle through the acquisition of Primavera Systems, the company said.

(Reporting by Arsheeya Bajwa in Bengaluru; Editing by Anil D’Silva)