Oracle Appoints New CFO as Stock Slides 24% on $50bn AI Build-Out
Oracle appointed Hilary Maxson as CFO, succeeding Doug Kehring, as the company accelerates AI and cloud infrastructure investments. It has laid off thousands while filing new H-1B petitions, and its stock is down 24% YTD over concerns about its $50bn AI build-out and rising debt despite a $553bn backlog.
1. CFO Appointment
Oracle named Hilary Maxson as chief financial officer effective immediately. Maxson joins from Schneider Electric, where she served as group CFO for a $45bn revenue business, while Doug Kehring will transition to focus on go-to-market operations.
2. AI Infrastructure Build-Out
The company is investing $50bn into AI computing, data centers and cloud infrastructure to meet demand that is outpacing available capacity. This accelerated build-out aims to strengthen Oracle’s position in the fast-growing AI and cloud markets.
3. Workforce Restructuring and Backlash
Oracle has laid off thousands of employees as part of its restructuring yet continues to file H-1B visa petitions for new roles and renewals. The simultaneous cuts and foreign-worker hires have sparked criticism over morale and public perception.
4. Financial Metrics and Stock Performance
Oracle’s stock has declined 24% year-to-date amid investor concern over rising debt from the AI build-out. The company still holds a $553bn contract backlog, reported 22% overall revenue growth and 44% cloud revenue growth, trading at an 18.3x forward P/E.