Larry Ellison steps back from the Oracle spotlight as the AI pivot takes over

Larry Ellison is reducing his public visibility at Oracle, missing recent earnings calls and the upcoming user conference. This shift follows the promotion of Clay Magouyrk and Mike Sicilia to co-chief executives, with Magouyrk having developed the cloud business and its EU sovereign region. Additionally, Ellison has canceled a planned sale of up to 50 million Oracle shares worth $7.5bn, reversing a decision disclosed in a filing just one day prior to the cancellation.