Oracle Names Maffei President, CFO

During Maffei's last year as Microsoft's finance chief, the company reportedly made 90 investments or acquisitions, with the value of the deals tot...
Stephen TaubJune 24, 2005

Gregory Maffei, a former CFO of Microsoft Corp. during a particularly acquisitive period, has been named president and CFO of Oracle Corp.

Maffei, who was serving as chairman and CEO of broadband provider 360networks Corp. before being tapped by Oracle, will have responsibility for the software giant’s legal department, human resources, manufacturing and distribution, and global real estate.

Oracle’s naming of Maffei is likely to mean that the company has more acquisitions in mind, according to The Wall Street Journal. As CFO of Microsoft from July 1997 to January 2000, he oversaw its $35 billion cash and strategic investment portfolio. Microsoft made 90 investments or acquisitions in 1999, with the value of the deals totaling $10 billion, the newspaper reported.

Maffei joined Microsoft in 1993 and held a number of positions there, including vice president of corporate development; treasurer; and director, business development and investments. From 1999 to February 2002, he served as chairman of Expedia Inc., the Internet travel service that Microsoft took public in November 1999.

“Greg is an exceptional executive with a wealth of experience in the software and telecommunications industries,” says Oracle CEO Larry Ellison. “The entire senior management team is looking forward to working with Greg.”

Maffei succeeds Harry You, who left in March to join BearingPoint as CEO and now serves as the consulting firm’s interim CFO.