Tech Job Watch Apr 25 2011

Oracle's Epstein Resigns; Replaced By President, Former CFO Catz

By nathan becker

Oracle Corp. said its chief financial officer Jeff Epstein has resigned, to be replaced by company president and former CFO Safra Catz.

Catz has been the software giant's president since 2004 and has served on its board since October 2001. She was the company's CFO from November 2005 through when she stepped down from the role in September 2008.

"Safra already has the long-standing confidence of our employees, our board and our shareholders," Oracle Chief Executive Larry Ellison said. "There is no more logical choice for CFO."

Epstein was named CFO in August of 2008, replacing Catz. Before he came to Oracle, he had been CFO of Oberon Media, an Internet game provider and publisher funded by Goldman Sachs, Morgan Stanley, Oak Investment Partners and Lehman Brothers.

In March, Oracle said its fiscal third-quarter profit surged 78%, topping its own expectations, as it saw strength from its traditional software and new hardware businesses.

Shares were down 1.3% to $34.38 in recent after-hours trading. The stock is up 32% over the past 12 months.

Nathan Becker is a reporter for Dow Jones Newswires, where this story originally appeared. Write to him here.



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