PeopleSoft CEO abandons ship
Print storyNot interested in Ellison's cold embrace
Posted in Financial News, 28th December 2004 22:22 GMT
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PeopleSoft has lost another CEO with top dog David Duffield resigning before Oracle takes over the company.
PeopleSoft today announced Duffield's resignation in a filing with the US Securities and Exchange Commission. The exec actually handed in his own walking papers on Dec. 21. Duffield was the leader of a PeopleSoft board that most reluctantly agreed to be taken over by Oracle for $10bn.
Duffield took over the CEO post when Craig Conway was given the boot during some of the most heated times of the Oracle takeover attempt. Conway received a luxurious $18m exit package.
Duffield also held the title of Chairman at PeopleSoft and helped co-found the company back in 1987.
Oracle does not plan to have any of PeopleSoft's seven board members play a role at the new software giant. Oracle hopes to have its buyout done and dusted in January. ®
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