Oracle Corporation`s board of directors has announced that it is separating the responsibilities of chairman of the board and chief executive officer. At its meeting today, the board elected Oracle`s chief financial officer, Jeff Henley, chairman of the Oracle board. In addition, Safra Catz and Charles Phillips have each been promoted to president reporting to Oracle chief executive officer, Larry Ellison.
Ellison`s management responsibilities as CEO of Oracle Corporation are unchanged; however, Ellison is relinquishing his chairman`s job to Henley. Henley will continue in his role as chief financial officer until a successor is in place. Catz will continue to be in charge of global operations, a job she has held for nearly five years. Phillips will be in charge of field operations including sales, marketing and consulting.
"Jeff Henley is one of the most respected executives in the technology industry," said Ellison. "Jeff`s been Oracle`s CFO for nearly 13 years. He`s an expert on corporate governance and accounting. Jeff`s knowledge and experience ideally qualify him to be our new chairman. I`m looking forward to working with Jeff for years to come.
"Safra Catz proved her executive worth by continuously implementing the operational changes that led to the record profit margins Oracle now enjoys," Ellison continued. "Chuck Phillips is that rare individual who understands both the customer and the technology. Over the years, he has earned the trust and respect of people throughout our industry. Chuck has the intellect and the personality to make our business grow as the economy improves."
"The Oracle board of directors believes these changes will enable the company`s deep management talent to better serve customers, run the company with excellence and integrity and complement its good corporate governance," said Dr Michael Boskin, chairman of the Nomination and Governance Committee and of the Committee on Compensation and Management Development of the Oracle board of directors.
Catz joined Oracle in April 1999, and she has been a board member since 2001. Phillips joined the company last May, and he was named today to the Oracle board of directors.
These executive changes are effective immediately.
For more information about the Oracle, its board of directors and its management team, please go to http://www.oracle.com/corporate/index.html?board.html.
Share