Oracle has named Clay Magouyrk and Mike Sicilia as CEOs, with current CEO Safra Catz becoming executive vice chair of the technology company's board.

The announcement comes as Oracle founder Larry Ellison has been named as part of a group that could be part of a deal in which the U.S. will take control of the social video platform TikTok. The group is also said to include media mogul Rupert Murdoch and tech founder Michael Dell.

Ellison currently serves as Oracle's chairman and chief technology officer.

Oracle said Monday that Magouyrk previously served as president of Oracle Cloud Infrastructure. He joined Oracle in 2014 from Amazon Web Services and is a founding member of Oracle's cloud engineering team.

Sicilia was president of Oracle Industries and joined the company when Oracle

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