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11/3/2005
04:57 PM
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Oracle Losing Another CFO

Maffei, Oracle's third CFO in less than two years, says his resignation "is not a reflection" on Oracle or its management

Oracle just can't seem to hang onto its chief financial officers.

Thursday the software company disclosed that CFO and co-president Greg Maffei is leaving Oracle after only about five months on the job. Maffei's predecessor, Harry You, left the job in March after only eight months.

Oracle announced Maffei's departure in a brief statement that quoted CEO Larry Ellison as saying: "Greg has told us he's looking at a terrific professional opportunity." Maffei was quoted as saying that his resignation "is not a reflection on the company, its executives, or employees." No other details were disclosed.

Maffei's appointment was announced June 24, although he started in the position shortly before then. Maffei previously held the CFO post at Microsoft where he worked from 1997 to 2000. After that he was CEO of 360Networks Corp., a fiber-optic networking company.

You was named CFO in July 2004 and left in March to take the CEO job at consulting and outsourcing-services company BearingPoint. You, in turn, replaced long-time CFO Jeff Henley who became Oracle's chairman in early 2004.

Oracle said Maffei would remain with the company until Nov. 15, after which his CFO duties will be taken over by co-president Safra Catz.

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