Oracle Board Resignation 2026: Two Octogenarian Directors Exit Amid AI Pivot
George Conrades and Naomi Seligman retire from Oracle's board. Read about the Oracle board resignation 2026 and its impact on the company's AI strategy and stock.
Two directors with nearly 40 years of combined experience are stepping down. Oracle is refreshing its boardroom as it aggressively pivots toward generative AI infrastructure.
Oracle Board Resignation 2026: The End of an Era
Oracle announced Friday that two longtime board members, George Conrades and Naomi Seligman, have resigned. Conrades(86), former CEO of Akamai Technologies, served for 18 years. Seligman(87), a partner at Ostriker von Simson, had been a director since 2005.
According to a company filing, their retirement isn't due to any dispute. However, it follows a major leadership shakeup in September, when Safra Catz was replaced by Clay Magouyrk and Mike Sicilia. The company's board now consists of 12 directors, while co-founder Larry Ellison(81) remains as executive chairman.
AI Ambition vs. Debt Skepticism
The new management team is racing to open data centers packed with Nvidia GPUs to support clients like OpenAI and xAI. While Oracle's remaining performance obligation (RPO) jumped 359% in September, Wall Street remains cautious. The stock erased its earlier gains in the fourth quarter as analysts questioned the company's ability to service its growing debt while funding its AI expansion.
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