Friday, March 18, 2005

Oracle loses You

CFO Harry You is leaving Oracle, after only eight months on the job, to become CEO of BearingPoint (formerly KPMG Consulting). The new position won't be a big adjustment for You: prior to taking the job at Oracle, he was CFO at Accenture, a major competitor to BearingPoint.

The timing of You's departure is not good for Oracle, as it is still digesting its acquisition of PeopleSoft and is in the middle of a bidding war with SAP for Retek. Oracle co-President Safra Catz, who already has a lot on her plate, will fill the CFO slot until a full-time replacement is found.

Because the major consulting firms, such as BearingPoint, have significant influence with large Oracle customers, it's important that Oracle maintain a positive relationship with You. CEO Larry Ellison said, "We wish Harry good fortune in his new job and look forward to partnering with him and BearingPoint for years to come."

Related posts
SAP ups the ante for Retek
Bidding war: Oracle fighting SAP over Retek
Oracle/PeopleSoft: deal is done

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