Oracle on Monday appointed Hilary Maxson as chief financial officer, ⁠tapping an executive with experience in infrastructure and energy ​to steer ​its efforts to ​meet surging demand for artificial intelligence and cloud services.

The appointment comes as the ⁠technology ‌company has been taking on a ⁠heavy debt load to fuel its massive AI infrastructure spending.

Maxson, whose appointment is effective immediately, had served ‌as group CFO at Schneider Electric, an energy management and automation ​company with over $45 billion in annual revenue, Oracle said.

Maxson said she aimed to ensure continued disciplined investment for ⁠creating lasting value for both customers and shareholders.

Doug ‌Kehring, who served as ‌Oracle's Principal Financial Officer for the past six months, will step down following the new appointment ⁠and will return to focusing on ⁠the company's go-to-market operations.

Maxson, 48, will ⁠receive an annual base salary of $950,000 and will be eligible for a ​performance-based bonus ‌with a target of $2.5 million, Oracle said in a regulatory filing.

Shares of the company were up 0.4% in premarket trading. They have ​fallen about 25% so ‌far this year.