Oracle Taps New CFO to Navigate Data Center Building Spree (2)

Oracle Corp. named Schneider Electric SEexecutive Hilary Maxson as its chief financial officer to help the company navigate massive data center development plans and an accompanying cash crunch.

“Meeting this opportunity requires efficient approaches in allocating capital, delivering capacity, driving innovation, and producing profitable, recurring revenue,” Oracle said in a statement Monday.

The hire is effective immediately and Maxson will report to Clay Magouyrk, one of the company’s two CEOs. Doug Kehring had been serving as principal financial officer since Safra Catz stepped down as chief executive officer and principal financial officer last fall.

Oracle, the nearly 40-year-old ...