Oracle Corporation announced on January 9 2026 that two of its longest‑serving directors, George Conrades and Naomi Seligman, will step down, reducing the board to 12 members. Conrades, 86, had served for 18 years, while Seligman, 87, joined in 2005 and had been a senior partner at a leading technology research firm. The resignations were effective January 5 and 7, 2026, respectively, and were disclosed in the same press release that confirmed the board’s new composition.
The departures come in the wake of a sweeping leadership overhaul that saw CEO Safra Catz replaced by co‑CEOs Clay Magouyrk and Mike Sicilia in September 2025. With the board now leaner, Oracle’s governance structure will rely more heavily on the remaining directors, including the co‑CEOs, to steer the company’s strategy. The loss of Conrades’ deep experience in technology leadership and Seligman’s expertise in technology research could shift the balance of expertise toward the new executive team’s focus on cloud and AI.
Oracle’s strategic trajectory is heavily weighted toward AI infrastructure, with the company planning billions of dollars in capital expenditures to expand data centers in Europe and to build AI‑optimized facilities worldwide. The board refresh is seen as part of a broader effort to align governance with this new focus. Oracle’s total debt has climbed to roughly $124 billion, up from about $100 billion in late 2025, while its remaining performance obligations (RPO) exceed $455 billion and are projected to surpass $500 billion. The combination of high leverage and aggressive investment raises questions about the company’s ability to convert its backlog into profitable, high‑margin revenue without straining its balance sheet.
Management emphasized confidence in the new leadership. Safra Catz said, “Our breathtaking growth rate points to an even more prosperous future, and this time of strength is the right moment to pass the CEO role to the next generation of capable executives.” Co‑CEOs Magouyrk and Sicilia added, “We are excited to lead Oracle into the AI era, where technological innovation leads to extraordinary business opportunity and hyper‑growth.” Larry Ellison noted, “Oracle Cloud Infrastructure is playing a major part in the race to advance Artificial Intelligence, and Clay’s experience leading our cloud business demonstrates his readiness for the CEO role.”
The board changes, coupled with Oracle’s high debt load and ambitious AI agenda, signal a period of strategic recalibration. Investors will monitor how the remaining directors, especially the co‑CEOs, balance the need for continued capital investment with the imperative to manage leverage. The board’s new composition may also influence oversight of risk management, executive compensation, and future capital allocation decisions as Oracle pursues its AI‑driven growth strategy.
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