Oracle Replaces Top Executives At PeopleSoft 2Oracle Replaces Top Executives At PeopleSoft 2
Oracle Corp. wasted little time cleaning house in its takeover of PeopleSoft Inc., removing four top executives from the latter's ranks and replacing them with Oracle executives.
December 31, 2004
Oracle Corp. wasted little time cleaning house in its takeover of PeopleSoft Inc., removing four top executives from the latter's ranks and replacing them with Oracle executives, according to a regulatory filing by Oracle.
Out were co-presidents Kevin Parker and Phillip Wilmington, replaced by Safra Catz and Charles Phillips. Also removed from their PeopleSoft positions were executive vice president and chief marketing officer Nanci Caldwell and James Shaughnessy, senior vice president, general counsel, and secretary. Harry You, chief financial officer at Oracle, will takeover the same financial post at PeopleSoft and Daniel Cooperman will become PeopleSoft's new general counsel and secretary--positions he held at Oracle. Earlier in the week, PeopleSoft's founder and chief executive David Duffield resigned. Oracle's 18-month hostile battle to takeover PeopleSoft ended earlier this month when PeopleSoft agreed to be taken over for $26.50 a share.
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