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Oracle announced Monday that it has hired a new chief financial officer after the software giant made progress on layoffs last week.
The company announced that Hilary Maxson will become the new CFO. She joins Oracle from the French industrial conglomerate Schneider Electric, where she held the same role. Oracle said her appointment to the rule is effective immediately.
Maxson, 48, will receive an annual base salary of $950,000 and is eligible for a performance-based bonus with a target of $2.5 million, Oracle said in a filing with the regulator.
The move follows Oracle reportedly moving forward with a round of layoffs last week CNBC reporting The layoffs will affect thousands of employees 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 expansion and restructures its workforce amid reported layoffs. (David Paul Morris/Bloomberg via Getty Images)
Oracle’s most recent 10-K filing shows that the company had approximately 162,000 full-time employees as of May 2025.
The company said in a March filing that it expects the total costs associated with it restructuring plan would rise to $2.1 billion in fiscal year 2026, most of which would go to severance and related costs.
Oracle recently ramped up capital expenditures for construction artificial intelligence (AI) data centers, as the company wants to integrate these tools into its business software services. The company has forecast $50 billion in capital expenditures for the fiscal year ending in May, more than double the spending 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 said in February that it planned to raise as much as $50 billion this year through a combination of debt and stock sales.
The company’s shares have been volatile over the past year as it builds out of AI, with shares up about 14% over the past year despite declines of 50% in the past six months and 25% so far this year, amid concerns that AI poses a competitive threat to software vendors.
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Shares of Oracle have been volatile during the AI expansion. (Getty Images)
Oracle’s decision to hire Maxson as CFO will restore a position that was eliminated after Safra Catz became co-CEO and chief financial officer of the company in 2014.
Maxson will report to Oracle co-CEO Clay Magouyrk in her new role and said in a press release announcing her hire that she is “excited to join at this pivotal time.”
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She added that she looks forward to working with the company’s leaders to “continue to invest in a disciplined manner and translate this momentum into sustainable long-term value for customers and shareholders.”
Reuters contributed to this report.
