Oracle takes control of PeopleSoft

Oracle announced yesterday that PeopleSoft shareholders have tendered about 75% of outstanding shares and that Oracle has designated four new PeopleSoft board members to replace four that have resigned.

This gives Oracle effective control of PeopleSoft.

Oracle has issued a press release with more details. But I think the visual impact of the tweaked PeopleSoft web site says it all.

Update, Dec. 31. Looks like Oracle can't wait to get started. According to an SEC filing by Oracle, four PeopleSoft executives are out the door: co-president and CFO Kevin Parker, co-president Phillip Wilmington, chief marketing officer Nanci Caldwell, and general counsel James Shaughnessy. Taking their places are four executives from Oracle: Safra Catz and Charles Phillips as co-presidents, Harry You as CFO, and Daniel Cooperman as general counsel.

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