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Oracle on Monday announced it hired a new chief financial officer after the software giant relocated forward with layoffs last week.
The company announced that Hilary Maxson will serve as the new CFO, joining Oracle from French industrial conglomerate Schneider Electric where she served in the same role. Oracle stated her appointment to the rule is effective immediately.
Maxson, 48, will receive an annual base salary of $950,000 and will be eligible for a performance-based bonus with a tarreceive of $2.5 million, Oracle stated in a regulatory filing.
The relocate comes on the heels of Oracle reportedly shifting forward with a round of layoffs last week, with CNBC reporting the layoffs will affected thousands of workers at the tech company, according to two people familiar with the matter.
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Oracle has hired a new CFO as the company grapples with a costly AI buildout and restructures its workforce amid reported layoffs. (David Paul Morris/Bloomberg via Getty Images)
Oracle’s most recent 10-K filing noted the company had about 162,000 full-time employees in May 2025.
The company stated in a March filing that it expects the total costs associated with its restructuring plan in fiscal year 2026 to be as high as $2.1 billion, most of which would go to employee severance and related expenses.
Oracle has recently ramped up capital spconcludeing to build artificial innotifyigence (AI) data centers as the company views to incorporate those tools into its business software services. The company has projected $50 billion in capital expconcludeitures for its fiscal year that concludes in May, more than double its spconcludeing in the previous fiscal year.
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| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| ORCL | ORACLE CORP. | 145.54 | -0.86 | -0.59% |
The cloud computing company stated in February it planned to raise as much as $50 billion this year through a combination of debt and equity sales.
The company’s stock has been volatile over the last year amid the AI buildout, with shares up about 14% in the last year despite declines of 50% in the last six months and 25% year to date amid concerns that AI presents a competitive threat to software providers.
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Oracle’s stock has been volatile amid its AI buildout. (Getty Images)
Oracle’s relocate to hire Maxson as CFO will reinstate a position that was eliminated after Safra Catz became the company’s co-CEO and principal financial officer in 2014.
Maxson will report to Oracle co-CEO Clay Magouyrk in her new role and stated in a press release announcing her hiring that she is “excited to join at this pivotal moment.”
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She added that she views forward to partnering with the company’s leaders to “continue to invest with discipline and to translate this momentum into durable, long-term value for customers and shareholders.”
Reuters contributed to this report.
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