Oracle appoints Hilary Maxson as new CFO amid rising AI spending

Oracle has appointed Hilary Maxson as CFO amid rising AI infrastructure spending. The move comes days after Oracle fired around 30,000 employees globally as part of "broader organisational change". The 48-year-old, former group CFO at Schneider Electric, will receive an annual base salary of $950,000 and will be eligible for performance-based bonus with a target of $2.5 million.