George H. Conrades, then chairman and CEO of Akamai Technologies, listens during a meeting of the National Infrastructure Advisory Council in Washington on April 13, 2004.
Jay Mallin | Bloomberg | Getty Images
Oracle said Friday that two longtime directors, both octogenarians, have resigned from the board.
George Conrades, former CEO of content network distribution company Akamai, is leaving, along with Naomi Seligman, a senior partner at technology research firm Ostriker von Simson, Oracle said in a filing. Conrades, 86, has been on the board for 18 years. Seligman, 87, joined the board in 2005.
“Neither retirement was the result of any dispute or disagreement with Oracle on any matter relating to Oracle’s operations, policies or practices,” the company said. Its board now consists of 12 directors.
The software maker and cloud infrastructure provider has been under new management since September, when the company abruptly announced that it was replacing CEO Safra Catz, 64, with two executives, Clay Magouyrk and Mike Sicilia. Magouyrk and Sicilia have been working to rapidly open data centers full of Nvidia graphics processing units that can run generative artificial intelligence models on behalf of clients such as OpenAI and xAI.
Oracle shares surged in September after the company revealed a 359% jump in remaining performance obligation, suggesting that faster year-over-year revenue growth will follow. But the stock plummeted in the fourth quarter, more than erasing those earlier gains, as Wall Street became more skeptical of the company’s ability to repay debts while delivering on AI.
Larry Ellison, Oracle’s 81-year-old co-founder and chief technology officer, remains on the company’s board as continues to serve as executive chairman.
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