Oracle Moved Up Leadership Succession Plans After Stock Rally

Oracle Corp. accelerated its succession plans for top leadership in recent months following a massive acceleration in its cloud business and stock market rally.

In June, the software giant promoted two executives — Clay Magouyrk and Mike Sicilia — to president. At that time, the plan was to eventually elevate those leaders into co-CEO roles in a year or two, according to a person who asked not to be named discussing internal plans.