Tuesday, January 13, 2004

WSJ.com - Oracle Splits Chairman, CEO Jobs; EU Suspends Probe of Oracle's Bid

WSJ.com - Oracle Splits Chairman, CEO Jobs; EU Suspends Probe of Oracle's Bid "The changes were part of a wider shuffle of executive titles announced by Oracle. Executive Vice President Chuck Phillips, a former Wall Street analyst who joined Oracle last year, was promoted to co-president and named to Oracle's board. Mr. Phillips, 44 years old, was given overall responsibility for the company's sales and consulting operations. He also oversees Oracle's marketing efforts and has a broad role in corporate strategy and planning, including acquisitions.
Another executive vice president, Safra Catz, 42, also was promoted to co-president. Ms. Catz, who joined Oracle in 1999, has been a board member since 2001. Both Mr. Phillips and Ms. Catz have played major roles in Oracle's effort to acquire PeopleSoft Inc. with a hostile, $7.3 billion bid.
The new title for Mr. Henley, 59, appears to solve a number of problems for Oracle. Mr. Henley, Oracle's finance chief for nearly 13 years, has been looking to step aside for some time but wanted to help stabilize the company's finances through the technology downturn, according to people familiar with the situation. By naming Mr. Henley chairman, Oracle is signaling continuity of leadership to Wall Street, where Mr. Henley has enjoyed wide respect. At the same time, the company is separating the titles of chief executive and chairman, as many corporate-governance experts have urged."

Hmm -- so maybe the PeopleSoft bid isn't so remote after all...
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