Oracle replaces CFO as Safra Catz gets the job again

By @ibtimes on

Oracle Corp has replaced its chief financial officer less than three years after he joined the company, tapping its president Safra Catz to do the job.

The company said on Monday that CFO Jeffrey Epstein resigned, but did not give a reason. Epstein, who joined Oracle in September 2008, could not immediately be reached for comment.

Epstein had little visibility with investors. During quarterly earnings conference calls, it was Catz who read the company's closely monitored profit forecasts and not Epstein.

Epstein reported to Catz and not to Chief Executive Larry Ellison.

The CFO role at Oracle is different from the CFO role at other companies. It's not as high profile, said Jefferies & Co analyst Ross MacMillan.

The company's presidents have decision-making authority in many areas that would typically fall under the CFO at a large corporation, MacMillan said.

Catz, who has been a president of Oracle since 2004, concurrently served as chief financial officer from November 2005 to September 2008.

Oracle shares fell 1.1 percent to $34.40 in extended trade.

(Reporting by Jim Finkle. Editing by Carol Bishopric and Robert MacMillan)

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