Greg Maffei resigns as chief financial officer of Oracle
Oracle Corporation has confirmed that their recently appointed Chief Financial Officer Greg Maffei has resigned from his position in the company. Greg would be leaving his position on November 15 after just around 5 months of taking over this position. They would now be putting this extra responsibility on the shoulders of co-president Safra Catz for the time being.
When Greg Maffei took over as CFO at Oracle, he replaced Harry You who himself had resigned after just 9 months on the job. You left to take over as chief executive at Bearing Point. Interestingly, the news came just after when a Wall Street analyst raised questions about Maffei’s future at Oracle after the former Microsoft chief financial officer missed a recent meeting with analysts in New York.
Worse, he cancelled another scheduled meeting due next week. Maffei previously worked at Microsoft and looked after the company’s $35 billion cash and strategic investment portfolio. Oracle has been quite active in the acquisitions market and has spent close to some $19 billion buying up rival companies to preserve its dominance in the database market. However, the way things are going on, it might not last for long.