News

Oracle CFO Resigns After 4 Months

Oracle Chief Financial Officer and Co-President Greg Maffei resigned late Thursday after just four months on the job, making him the third CFO to leave the post during the past two years.

In a short statement announcing the resignation, CEO Larry Ellison said that Maffei decided to resign to pursue a "terrific professional opportunity," but gave no indication as to what the opportunity is. “We wish him well,” he commented.

Maffei, who served as Microsoft's CFO from 1997 to 1999, said in the release, “My resignation from Oracle is not a reflection on the company, its executives or employees...I wish Oracle and my former co-workers the very best.”

Despite the congenial tone of the announcement, several analysts cited infighting as a likely reason for the departure. Portland-based Pacific Crest Securities Analyst Brendan Barnicle told Bloomberg, "I've heard about personality issues with him and the other executives.'' The Wall Street Journal reported that Maffei is rumored to have clashed with his successor, fellow Co-President Safra Catz.

The resignation was not entirely unexpected; Just hours before it was announced, Goldman Sachs analyst Rick Sherlund issued a research note questioning Maffei's status at the company, citing two recently cancelled appearances.

Maffei came to Oracle in June from 360networks, where he served as CEO. According to Oracle, Maffei will officially leave the company on Nov. 15.

Oracle's previous CFO, Harry You, left to become CEO of BearingPoint. You came to Oracle the year before to replace Jeff Henley, who became chairman of Oracle's board.

According to reports, Oracle will not be looking to replace its third co-president position.

About the Author

Becky Nagel serves as vice president of AI for 1105 Media specializing in developing media, events and training for companies around AI and generative AI technology. She also regularly writes and reports on AI news, and is the founding editor of PureAI.com. She's the author of "ChatGPT Prompt 101 Guide for Business Users" and other popular AI resources with a real-world business perspective. She regularly speaks, writes and develops content around AI, generative AI and other business tech. She has a background in Web technology and B2B enterprise technology journalism.

Featured

  • Microsoft Appoints Althoff as New CEO for Commercial Business

    Microsoft CEO and chairman Satya Nadella on Wednesday announced the promotion of Judson Althoff to CEO of the company's commercial business, presenting the move as a response to the dramatic industrywide shifts caused by AI.

  • Broadcom Revamps VMware Partner Program Again

    Broadcom recently announced a significant update regarding its VMware Cloud Service Provider (VCSP) program, coinciding with the release of VMware Cloud Foundation (VCF) 9.0, a key component in Broadcom’s private cloud strategy.

  • Closeup of the new Copilot keyboard key

    Microsoft Updates Copilot To Add Context-Sensitive Agents to Teams, SharePoint

    Microsoft has rolled out a new public preview for collaborative "always on" agents in Microsoft 365 Copilot, bringing enhanced, context-aware tools into Teams channels, meetings, SharePoint sites, Planner workstreams and Viva Engage communities.

  • Windows 365 Cloud Apps Now Available for Public Preview

    Microsoft announced this week that Windows 365 Cloud Apps are now available for public preview. This aims to allow IT administrators to stream individual Windows applications from the cloud, removing the need to assign Cloud PCs to every user.