Oracle names Schneider Electric's Maxson as CFO amid soaring AI spending [BNN Bloomberg (Canada)]
SCHNEIDER ELEC UNSP/ADR (SBGSY)
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Source: BNN Bloomberg
The appointment, which reinstates a crucial position after Safra Catz became co-CEO and principal financial officer in 2014, comes when the technology company has been taking on a heavy debt load to fund its massive AI infrastructure spending. Maxson, whose appointment is effective immediately, had served as group CFO at Schneider Electric, a French industrial group with more than US$45 billion in annual revenue. Since she joined in 2017, Schneider transformed from an electrical equipment supplier into a digital energy technology partner for key segments through software, data and AI, Oracle said. Schneider had no immediate comment on Monday, which was a national holiday in France. Oracle has forecast spending $50 billion in fiscal 2026, more than double the capital expenditure in the previous fiscal. Last month, the company said it planned to raise between $45 billion and $50 billion in 2026 to build additional capacity for its cloud infrastructure. Oracle's shares have
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