Oracle CFO Resigns
In the latest in a series of executive changes at Oracle (ticker ORCL), Jeff Epstein, the most recent chief financial officer, has resigned and will be immediately succeeded by the company’s co-president. According to the Wall Street Journal (wsj.com), his duties will be added to those of Ms. Safra Catz, the co-president who was his immediate superior. Ms. Catz has been a president at Oracle since 2004 and served as finance chief from November 2005 until Mr. Epstein arrived.
Mr. Epstein, who had joined Oracle in September, 2008, also oversaw investor relations in addition to the company’s financial operations. Oracle offered no reason for Mr. Epstein’s departure, and a spokeswoman for the company declined to elaborate on its announcement Monday. Mr. Epstein didn’t immediately respond to a request for comment.
Oracle shares have been uptrending strongly and reached a new 52 week high intraday today during trading in the regular market session, closing near their high for the day at $34.83 and falling off slightly to $34.50 in after hours trading. The announcement is not expected to have much of an effect on the share price in the intermediate to longer term time horizon.
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