Summary
This 8-K filing from Salesforce.com, Inc. (CRM) on August 20, 2007, announces a significant transition in its Chief Financial Officer (CFO) role. Steve Cakebread, the current CFO, is slated to move to President and Chief Strategy Officer in early Fiscal Year 2009 (February-April 2008). This planned transition allows for a smooth handover. Concurrently, Salesforce.com is appointing Graham V. Smith as the Executive Vice President and Chief Financial Officer Designate, expected to join in their fiscal fourth quarter of 2007. Mr. Smith brings a strong financial background from his previous roles at Advent Software, Vitria Technology, Nuance Communications, and notably, Oracle Corporation, where he held senior finance positions. Investors should monitor the company's future filings for more details on Mr. Smith's official assumption of CFO duties.
Key Highlights
- 1Planned transition of Steve Cakebread from CFO to President and Chief Strategy Officer.
- 2Steve Cakebread's transition is scheduled for the Company's first quarter of Fiscal 2009 (February-April 2008).
- 3Graham V. Smith to join as Executive Vice President and Chief Financial Officer Designate.
- 4Graham V. Smith's anticipated start in the CFO designate role is the Company's fiscal fourth quarter.
- 5Graham V. Smith has extensive financial experience, including past CFO roles at Advent Software and Nuance Communications.
- 6Mr. Smith has a significant tenure at Oracle Corporation in various senior finance capacities.
- 7Salesforce.com anticipates filing an additional Form 8-K with further details closer to Mr. Smith's CFO transition.