Feeds

PeopleSoft boss gets $18m to walk away

Just go...

  • alert
  • submit to reddit

Top 5 reasons to deploy VMware with Tegile

Craig Conway, the former chief executive of PeopleSoft who was pushed out by the board, is to receive an $18m severance package.

The golden goodbye is made up of cash and the value of his share options, according to an anonymous source talking to Reuters.

PeopleSoft refused to comment on the story, but a public filing with the Securities and Exchange Commission revealed the firm was making a one-off payment of $3.2m to Conway. The firm said the money represented "the company's obligation for continued payments of 24 months base salary and 24 months target bonus discounted to net present value."

Conway opposed the attempted takeover by Oracle and was accused of misleading analysts about the impact of the hostile takeover. He was fired earlier this month because the board of directors lost confidence in his ability. He was replaced as chief executive by Dave Duffield who started the company.

Oracle's bid of $7.7bn for the firm looks more likely to go ahead after US courts turned down the Department of Justice anti-trust case. European regulators are still looking at the deal. ®

Related stories

PeopleSoft defends poison pills
Oracle vs Peoplesoft
Customer views from PeopleSoft Connect
OK, so Ellison is not a sociopath...

Beginner's guide to SSL certificates

More from The Register

next story
Facebook, Apple: LADIES! Why not FREEZE your EGGS? It's on the company!
No biological clockwatching when you work in Silicon Valley
Lords take revenge on REVENGE PORN publishers
Jilted Johns and Jennies with busy fingers face two years inside
Yes, yes, Steve Jobs. Look what I'VE done for you lately – Tim Cook
New iPhone biz baron points to Apple's (his) greatest successes
Happiness economics is bollocks. Oh, UK.gov just adopted it? Er ...
Opportunity doesn't knock; it costs us instead
Ex-US Navy fighter pilot MIT prof: Drones beat humans - I should know
'Missy' Cummings on UAVs, smartcars and dying from boredom
Facebook pays INFINITELY MORE UK corp tax than in 2012
Thanks for the £3k, Zuck. Doh! you're IN CREDIT. Guess not
Sysadmin with EBOLA? Gartner's issued advice to debug your biz
Start hoarding cleaning supplies, analyst firm says, and assume your team will scatter
Edward who? GCHQ boss dodges Snowden topic during last speech
UK spies would rather 'walk' than do 'mass surveillance'
prev story

Whitepapers

Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Why and how to choose the right cloud vendor
The benefits of cloud-based storage in your processes. Eliminate onsite, disk-based backup and archiving in favor of cloud-based data protection.
Three 1TB solid state scorchers up for grabs
Big SSDs can be expensive but think big and think free because you could be the lucky winner of one of three 1TB Samsung SSD 840 EVO drives that we’re giving away worth over £300 apiece.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.