Oracle Corporation on Monday said it has hired a new Chief Financial Officer, just days after reports of layoffs at the company. The company announced that Hilary Maxson will be its new CFO. She joins from Schneider Electric, where she was also serving as CFO. Oracle said her appointment is effective immediately.
Maxson, 48, will earn a base salary of $950,000 a year. She will also be eligible for a performance-based bonus, with a target of $2.5 million, according to a regulatory filing, Fox News reported.
In a statement, she said she is “excited to join at this pivotal moment.” Maxon added that she is looking forward to working with the company’s leadership and “continue to invest with discipline and to translate this momentum into durable, long-term value for customers and shareholders.” She will report to co-CEO Clay Magouyrk in her new role.
Who is Hilary Maxon?
Maxson holds a bachelor’s degree and an MBA from Cornell University. She also serves as a non-executive director and chairs the Audit Committee at Anglo American plc.
Before joining Oracle, Maxson worked at Schneider Electric as Executive Vice President and Group CFO. The company is known globally for its work in electrification, automation, and digital systems, and brings in more than $45 billion in annual revenue.
Maxon oined Schneider Electric in 2017 and was part of its shift from being mainly an electrical equipment supplier to becoming a digital energy technology partner. The company focused on areas like utilities and data centres, using software, data, and AI to modernise energy systems.
Maxson played a key role in improving performance, expanding operations, and supporting this transformation. Earlier in her career, she spent 12 years at AES Corporation, where she held senior roles across finance, strategy, and mergers and acquisitions, working on large infrastructure projects across different global markets.
With Maxson stepping in, Doug Kehring will move out of his role as Oracle’s Principal Financial Officer.
Hiring comes right after Oracle layoffs
This announcement comes shortly after Oracle reportedly carried out a round of layoffs last week. According to CNBC, the layoffs are expected to affect thousands of employees, based on information from two people familiar with the matter. The company has not officially shared the exact number. Oracle had about 162,000 full-time employees as of May 2025, as per its latest 10-K filing.
In a filing made in March, Oracle said it expects the total cost of its restructuring plan in the 2026 financial year to go up to $2.1 billion. A large part of this amount will be used for employee severance and related expenses.
Heavy spending on AI plans
At the same time, Oracle has been increasing its spending on artificial intelligence.
The company is building AI data centers and adding AI tools to its business software services. It has projected capital spending of up to $50 billion for the current fiscal year, which ends in May. This is more than double what it spent in the previous year.