Oracle Co-CEO Safra Catz to Visit Israel
Ms. Catz, who is set to arrive for a private visit, will also hold a press conference in two weeks
11:3504.04.18
Safra Catz, the co-CEO of software multinational Oracle Corporation together with Mark Hurd, is set to arrive in Israel for a private visit in upcoming weeks, an Oracle spokesman told Calcalist.
Oracle Co-CEO Safra Catz. Photo: Orel Cohen
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Israel-born Ms. Catz, who was appointed to the role in 2014 and previously served as the company’s chief financial officer, will hold a press conference during her visit and also meet with clients of Oracle’s Israeli branch, the spokesman said.
Oracle Co-CEO Safra Catz. Photo: Orel Cohen
Under Ms. Catz and Mr. Hurd, Oracle has shifted focus from more traditional database software to a newer cloud-oriented one. The company has launched several new enterprise cloud products in recent months, added a “news feed-like” social interface to its cloud framework, and announced the establishment of two new, U.S.-based solution engineering centers that will focus on creating new cutting-edge technology.
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In March, Oracle published third-quarter reports that beat its earnings estimates for the quarter, but weak guidance caused its stock to fall by as much as 11% on NYSE. The company reported that demand for new software licenses fell in the third quarter 1.8% year-to-year, and predicted the sales of its cloud products will rise 19%-23% in the current quarter compared to 32% in the third quarter.
The company also took a one-time hit of $6.9 billion due to the recent U.S. tax reform.
