Oracle announces board departures George Conrades and Naomi Seligman
George H. Conrades, then chairman and CEO of Akamai Technologies, listens to the National Infrastructure Advisory Council meeting in Washington on April 13, 2004.
Jay Mallin | Bloomberg | Getty Images
Seer Two longtime executives, both octogenarians, have resigned from the board, it said Friday.
George Conrades, former CEO of content network distribution company AkamaiOracle said technology research firm Ostriker von Simson is leaving along with senior partner Naomi Seligman. filing. Conrades, 86, has been on the board for 18 years. Seligman, 87, joined the board in 2005.
“No retirement was the result of any dispute or disagreement with Oracle regarding any matter related to Oracle’s operations, policies or practices,” the company said. he said. The board of directors now consists of 12 directors.
The software maker and cloud infrastructure provider has been under new management since September, when the company suddenly announced that it was replacing 64-year-old CEO Safra Catz with two executives, Clay Magouyrk and Mike Sicilia. Magouyrk and Sicilia are working to quickly open their data centres. Nvidia Graphics processing units that can run generative AI models such as OpenAI and xAI on behalf of customers.
Oracle shares rose in September after the company announced a 359% increase in its remaining performance obligation; This suggests faster year-over-year revenue growth will follow. But the stock fell further in the fourth quarter, more than erasing earlier gains, as Wall Street became skeptical about the company’s ability to repay debt while delivering artificial intelligence.
Larry Ellison, Oracle’s 81-year-old co-founder and chief technology officer, remains on the company’s board of directors and continues to serve as executive chairman.
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