As AI spending increases, Oracle appoints Schneider Electric’s Maxson as CFO

oracle On Monday, the company named Hilary Maxson as chief financial officer, tapping an executive with infrastructure and energy experience to steer its efforts to meet rising demand for artificial intelligence and cloud services.

The appointment comes at a time when the tech company has taken on a heavy debt load to fuel its massive spending on AI infrastructure.

Maxson, whose appointment is effective immediately, previously served as Group CFO at Schneider Electrican energy management and automation company with annual revenue of over $45 billion, Oracle said.

Maxson said her goal is to continue to ensure disciplined investments to create lasting value for customers and shareholders.

Doug ‌Kehring, who has served as Oracle’s principal financial officer for the past six months, will step down following the new appointment and refocus on the company’s development.