Oracle has just lost their second CFO this year. This time, the ex-Microsoft CFO, Greg Maffel, only at Oracle since June has suddenly departed. His predecessor, Harry You had only been at the company for a year.
The rumours seem to state that Maffei lost a political battle with Oracle President Safra Catz. Ms Catz will now assume the CFO responsibilities as well as being in charge of global operations.
These shenanigans seem a little inapropriate for a company the size of Oracle and a dangerous distraction given all the challenges they have in integrating their various acquisitions. Oracle seems to be a little prone to shoot themselves in the foot and are allowing SAP an easier ride than they might.
Not surprisingly Oracles stock price has been punished.
36 minutes ago