Oracle has appointed two new co-CEOs to replace Safra Catz, its current chief executive. The White House stated that Oracle will provide security for a new TikTok algorithm. Clay Magouyrk and Mike Sicilia, previously presidents of Oracle segments, are the new co-CEOs. Oracle stock rose less than 1% on the news. Safra Catz, Oracle’s former CEO, is now the executive vice chair of the board. Oracle’s involvement in securing a new TikTok algorithm is seen as positive and accounted for 5% of OCI’s revenue in its 2025 fiscal year.

Read more at Yahoo Finance: Oracle announces CEO shakeup, company named in TikTok deal