Oracle Names Hilary Maxson As CFO Amid Mass Layoffs & AI Spending Surge

Oracle has appointed Hilary Maxson as its new Chief Financial Officer, bringing in a seasoned executive from the energy and industrial sector to steer the company's finances through the most aggressive expansion in its history.

Maxson will report to CEO Clay Magouyrk and lead Oracle's global finance organisation. The appointment comes as the technology company has been taking on a heavy debt load to fuel its massive AI infrastructure spending.

Who is Hilary Maxson?

Maxson's career is defined by large-scale infrastructure and transformation. Since joining Schneider Electric in 2017, the organisation transformed from an electrical equipment supplier into a digital energy technology partner for key segments like utilities and data centres, focused on modernising the energy landscape through software, data, and AI, and Maxson played a key role in driving performance, scaling operations, and advancing that strategic transformation.

Earlier in her career, Maxson spent 12 years at the AES Corporation, where she held senior leadership roles across finance, strategy, and M&A, supporting complex, capital-intensive infrastructure investments across global markets. She holds a bachelor's degree and MBA from Cornell University and also serves as a non-executive director and Chair of the Audit Committee at Anglo American plc.

CEO Clay Magouyrk said in a statement, "Hilary's experience spans industrial, infrastructure, and software businesses - sectors where capital intensity and execution excellence are critical to success."

Kehring will transition out of the role

With Maxson's appointment, Doug Kehring will transition out of the role of Oracle's Principal Financial Officer, returning his focus to helping optimise and accelerate the company's go-to-market operations. Maxson's arrival ends a twelve-year period during which Oracle operated without a standalone CFO, a vacuum filled largely by Safra Catz during her tenure as CEO.

Maxson joins Oracle during a period of rapid growth, with Oracle's most recent quarter delivering its strongest performance in over 15 years, exceeding 20 percent growth for both organic total revenue and non-GAAP earnings per share. Remaining performance obligations hit $553 billion in Q3 FY2026, up 325% year over year, almost entirely driven by large-scale AI contracts.

However, the growth has come at a steep price. Oracle has taken on $58 billion in new debt within just two months, and its stock has lost more than half its value since reaching a peak in September 2025.

Oracle mass layoffs

Just days before Maxson's appointment was announced, Oracle made headlines for a very different reason. Oracle began a sweeping layoff campaign impacting as many as 30,000 workers globally, with employees receiving termination emails from 'Oracle Leadership' at 6 am stating that 'current business needs' had eliminated their position and that 'today is your last working day.'