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Oracle CFO Leaves after Four Months of Service
An anonymous reader writes "Oracle's CFO and Co-President Greg Maffei has quit. He will be succeeded by Safra Catz, who has been with Oracle for a while, and it will be interesting to see how long she lasts. Before Maffei, Harry You was CFO for 9 months, and before him was Jeff Henley. What's with the CFO shuffle at Oracle?"
CFO's earn so much that 9 months are enough for the rest of their life.
When the CFO leaves, it's usually because they think they're in a sinking ship.
"Larry"
News for Nerds. Stuff that Matters? Like hell.
"What's with the CFO shuffle at Oracle?" We didn't mean to cause any trouble; We're just doin' the CFO Shuffle.
CFOs depart quickly because they see tyranical leadership, bad financial situation, or both. Sounds like there are some serious problems in Oracle's financial sector.
Don't pick up the pho*(@)$*@&@!@ NO CARRIER
I imagine Oracle's financials are like a messy kitchen. Cleaning it doesn't sound like too bad of a job until you actually walk in and see it... Yes, I live in a bachelor pad.
If it ain't broke, it needs more features!
What's with the CFO shuffle at Oracle?
Oh, nothing more than fear of doing jail time.
Seriously, after Tyco, WorldCom and Enron, a CFO that is asked to support accounting that might be considered questionable bears some serious risks (as they should). The compensation just does not justify the risk of jail time. At least not for your typical CFO.
Posting anonymously 'cause I still want a job...
I've been consulting for Oracle for a couple years now and I'm not surprised by this. I get reorg'ed every three months at the minimum, I can't count the number of managers I've had since I've been working here - most know my name only by my expense reports. Every so often my cell phone rings and the voice on the other end says "Hi, I'm ****, your new manager." Why would it be any different in the adminisphere?
I've worked for companies big and small over the years and while the job has its good points, the constant turnover isn't one of them
Comment removed based on user account deletion
So my guess is that either the CFOs feel bad about selling incredibly overpriced products, or they just plain don't understand how the hell they can manage all these crazy contracts.
When Microsoft licensing is the low-cost alternative to your product, there is something terribly wrong.
lucm, indeed.
It's very simple. CFO stands for "Chief of Fucking Off." Their job is to get hired, sit around for a few days, and then fuck off and look somewhere else for a job.
Sounds like most of the programmers I've worked with over the years. Similar to the sysadmins too, however they download porn instead of looking for jobs.
Help me take back Slashdot. When did 'News for Nerds' become 'FUD and Conspiracy Theories for Extremist Nutjobs'?
Harry You
There's gotta be a joke in there somewhere.
Tech, life, family, faith: Give me a visit
> You was CFO for 9 months
What? No I wasn't.
For some reason the CFOs have found it disturbing that Larry expects them to cut off their pinky if there are profit warnings :)
First rule of Oracle: Larry Ellison is God. You are not God. Disagreements with God will be answered by plagues.
Maybe they couldn't stand the financial package... ;)
dnuof eruc rof aixelsid
Oracle CFO Leaves after Four Months of Service.
He must have finally gotten a database up and running.
The ______ Agenda
I am wondering if anyone has information on how compensation, particularily any exit bonuses he received. There have been rumors about layoffs lately, so I would be apalled if the money he took would be enough to fund those employees.
Q - What's the difference between God and Larry Ellison?
A - God doesn't think he's Larry Ellison.
He was also the last well-respected Microsoft CFO. While Maffei was in charge, Microsoft could literally do nothing wrong financially. When the earnings were announced, he'd say something like "don't expect good results next quarter" and the stock would skyrocket. When Connors replaced him, it was almost the exact opposite. Connors would say virtually the same thing, and the stock would tank. Microsoft has definitely suffered from the leadership vacuum that Maffei's departure left.
If you don't want crime to pay, let the government run it.
Or, maybe it takes from four to nine months to shovel to the bottom of the accounting muck at Oracle. At that point, a CFO reaches the inescapable conclusion that they must either:
1. Issue a radical restatement of earnings for one or more previous quarters in their next financial report.
2. Commit perjury.
If the CEO and board disagree with the necessity of revising past financial statements, and the CFO doesn't feel like taking his chances with committing fraud (especially in the current post-scandel atmosphere), then it's time to shop for a new CFO. At the least, it will give the higher-ups a few more months to inconspicuously sell some stock while the next CFO's still busy shoveling.
Can anyone tell me how to set my sig on Slashdot?
Oracle: The company that sold the state of California more licenses than its entire work force. *
I had fun when I bought an Oracle license for our developers, and got a follow-up call from a sales rep explaining why I hadn't actually bought a valid license. After I explained exactly how we were testing and considering deploying Oracle, he went into hilarious detail about how much the licenses we needed would cost. Actually, at first he just alluded to all the different aspects of licensing we needed to worry about, but I pressed him for a quote, and he got back to me a few days later with a quote that took him a while to explain. All of this for the smallest possible dev environment.
I began this saying that I had fun. The fun part was saying truthfully, "Obviously then, we won't be developing any product with Oracle. There are other databases that will meet our needs."
I'll bet their salesmen get a lot of un-sales that way.
* Turns out that California was not unusual. http://news.zdnet.com/2100-3513_22-923127.html
Assembly is the reverse of disassembly.