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Oracle announces CEO shakeup, company named in TikTok deal

Oracle (ORCL) said Monday that it has appointed two new co-CEOs to replace its current chief executive Safra Catz. The development came after the White House said that the software giant will recreate and provide security for a new TikTok algorithm, per a Bloomberg report. The two new chief executives are Clay Magouyrk, who was the president of the company's AI cloud business, Oracle Cloud Infrastructure (OCI), and Mike Sicilia, who was the president of Oracle Industries. The two were named presidents of ...