Oracle Names New CFO

Oracle has named Harry You, currently Accenture's CFO, to be its new chief financial officer and executive VP. You replaces Jeff Henley who was named Oracle's chairman earlier this year.

Accenture quickly named Michael McGrath, its Capital Committee chairman, chief risk officer, and former CFO, to succeed You.

You will report to CEO Larry Ellison. Prior to this year, Ellison held both the chairman and CEO posts. But in January Oracle's board voted to split the two jobs and named Henley the new chairman. Henley has continued to serve as CFO, a job he has held for 13 years.

Since 2001, You has served as CFO at Accenture, where he was responsible for all of the consulting firm's financial operations during its transition to a public company. At Oracle, You will also be the point person for its business relationship with Accenture.

Prior to joining Accenture, You was a managing director at Morgan Stanley where he was in charge of the financial-services company's computer and business services group. Earlier he held positions at Lehman Brothers and Salomon Brothers, and before that was an adviser to the board of directors at Lucky-Goldstar International in Seoul. He holds a bachelor of arts degree in economics from Harvard and a master of arts in economics from Yale.

You joins Oracle in the midst of the company's protracted effort to acquire rival PeopleSoft Inc. for $7.7 billion. Despite the slowdown in IT spending in recent years, Oracle has experienced steady sales and earnings growth.

McGrath was Accenture's CFO from 1997 until immediately prior to its IPO in July 2001. Since then, he's served as chairman of Accenture's Capital Committee and chief risk officer.