Oracle Appoints New CFO Amid Job Cuts
On Monday, Oracle revealed that it has appointed a new chief financial officer, following recent job cuts within the company.
Hilary Maxson will step into the CFO role, having previously held the same position at Schneider Electric, a French conglomerate. Oracle announced that Maxson’s appointment is effective immediately.
Maxson, who is 48 years old, will have an annual salary of $950,000, along with the possibility of a performance-based bonus targeted at $2.5 million, according to a filing with regulatory authorities.
This change comes on the heels of reports about a significant number of layoffs at Oracle. According to sources familiar with the situation, thousands of employees will be affected as the company attempts to cut costs.
Oracle is undergoing a significant restructuring, with its latest filing indicating approximately 162,000 full-time employees as of May 2025. The company anticipates sales of around $2.1 billion in the fiscal year 2026, largely attributed to retirement benefits and related costs.
In terms of future plans, Oracle is placing a strong emphasis on integrating artificial intelligence (AI) into its business software. The company expects to spend around $50 billion on capital expenditures for the fiscal year ending in May, a substantial increase from the prior year.
The recent fluctuations in Oracle’s stock—up about 14% last year, but down 50% in the past six months—reflect concerns among investors about the competitive pressures posed by AI for software providers.
The appointment of Maxson reinstates the CFO position, which had been eliminated back in 2014 when Safra Catz took on dual roles as co-CEO and chief financial officer. Maxson will report directly to Co-CEO Clay Magouik, who expressed enthusiasm for the timing of her hiring, emphasizing a commitment to sustainable, long-term value for both customers and shareholders.
