Liberty Media Names Maffei CEO

Oracle's CFO announced his departure last week.
Stephen TaubNovember 9, 2005

Gregory Maffei has resurfaced.

Liberty Media Corp. — a holding company with interests in entertainment, communications, and media businesses — announced that the recently departed president and chief financial officer of Oracle Corp. has been appointed CEO-elect and director.

After a brief transition, Maffei will assume the role of chief executive officer sometime during the second quarter of 2006, replacing John C. Malone, who will remain chairman. At that time, Maffei will also assume the title of president, replacing Robert Bennett, who is retiring but will remain a director.

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“I have known Greg for many years and have found him to be one of the most astute financial thinkers I have met,” said Malone, in a statement. “Greg is well known and respected in the media and electronic commerce industries and has extensive deal experience in these areas. His new media experience combined with his financial expertise, leadership skills, and network of professional relationships make Greg is an ideal candidate to take the reins at Liberty.”

Last week Maffei was the subject of much discussion when a Goldman Sachs analyst raised concerns that Maffei had been away for more than two weeks, leading to the cancellation of an analyst meeting and an appearance at a Goldman conference. Maffei subsequently announced his resignation after less than five months on the job. He will remain at Oracle until November 15.

Prior to joining Oracle, Maffei was chairman and CEO of 360networks Corp. Earlier, he spent seven years with Microsoft Corp., most recently as senior vice president and CFO.

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