We recently published 14 Stocks Jim Cramer Discussed Including His 2 Top Quantum Computing Stocks. Oracle Corporation (NYSE:ORCL) is one of the stocks Jim Cramer recently discussed.
Cramer discussed the recent leadership change at Oracle Corporation (NYSE:ORCL) in detail, which saw the firm’s former CEO, Safra Catz, shift to a board leadership role and two co-CEOs take her place. The CNBC TV host discussed the former CEO, her successors, and the culture at Oracle:
“Well I’ve got to tell you, there’s some very exciting ones. . .these are people who are successful. This is not the kind of thing, I mean we’re going to have to leave this, I’m not talking about Molson Coors, but Safra Catz is amazing. She did an incredible job. Take a look at performance. I don’t even know David, what’s the kind of total shareholder return there. I mean I checked in with her, she’s just said, all she says is, it’s a great day.
“[On why now] It’s time to have someone who’s directly related to the cloud infrastructure and someone directly related to AI. That’d be good. Safra’s from the other side of the equation, but Safra’s a winner. One of the most remarkable CEOs. Just incredibly intense. By the way, I worked with one the toughest founders there is. What an achievement. And I just want to say, congratulations to her. She’s just fabulous.
“Still Crushing it. You know Carl, when we look back at people during this era, we should be thinking about him as number one. We have a lot of people who we think have done a great job. And you know what I think of Jensen Huang and what I think of Tim Cook. But this man reinvented a company on the fly with Safra Catz at the age of 79. . .he is the GOAT. He’s the GOAT.
“People don’t understand, Catz is, these people are so competitive. Okay, when you speak to them, they’re relentless. Relentless about being number one. And now, I think there are a lot of people feel there was, this thing which was a bridge too far, this gigantic move into the cloud, the data center. But if AI is real, and we can extend the period where people are trying to figure out whether they’re winners in AI or whether they can win in AI, they’re gonna come back and look at this visionary team that just said, you know what, everyone needs power. Everyone needs a data center. We’re going to deliver it. Just turnkey. . .I think that they had vision, and their vision was we don’t want to grow two to four percent for the rest of our lives. We wanna accelerate our growth. And these two people did it. My hat’s off to it. . .it’s almost as if they spotted the other team, 26 points in the first, it was like that, you know what I mean, and then they came back.
I want to circle back to the Oracle deal, because it is so important. Mr. Magouryk, who is the CEO, he’s from the hyperscale public cloud data centers business. And he will be a perfect liaison. And then Mike Sicilia, who will also be a co-CEO, he’s done unbelievable work in terms of trying to figure. out how to use AI to not have the cost of coding. And I’m sure he will offer you a value proposition, and Mr. Magouryk will offer you, because he was a founding member of Oracle’s cloud engineering team, he’ll offer you what needs to be done for the data center and be able to build out all the data centers. And Safra Catz, just a remarkable run. I salute her. She’s one of the great CEOs, not women CEO, none of that nonsense, she’s tough as nails. Great CEOs ever. Congratulations. She’s still staying. Executive vice chair of the board of directors. But I don’t think she gets the credit that she deserves for just being, really understanding vision of what to do here. Along with Larry Elisson, congratulations.
“Look it’s a different outfit, the culture out there. It’s a culture of winning. I mean you have to just, they’re very NFL like, which is that look, it’s W, they wanna get Ws and they get them. Because they are fantastic. We gotta get these people on. These two CEOs, I am sure they will show you why they’ll be able to pull this off. It’s a big thing to pull off what they’re doing, building those data centers.”
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Disclosure: None. This article is originally published at Insider Monkey.
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