Summary
Oracle Corporation (ORCL) has filed an 8-K report on August 22, 2006, detailing a significant change in its senior accounting leadership. Jennifer L. Minton, Senior Vice President, Global Finance and Operations and the Company's Chief Accounting Officer, has announced her intention to step down from her role effective October 11, 2006. This transition is planned to occur after the filing of the company's Form 10-Q for the first quarter of Fiscal Year 2007. Minton's departure is for personal reasons, with her retirement from the company scheduled for November 30, 2006, after 17 years of service. Importantly, the filing states that her resignation is not a result of any disagreements with senior management or any issues related to the company's accounting or operating policies. Oracle has initiated a search for Minton's successor.
Key Highlights
- 1Jennifer L. Minton, Chief Accounting Officer, is stepping down from her role.
- 2Minton's departure is effective October 11, 2006, post-Q1 FY2007 10-Q filing.
- 3Minton will retire from Oracle on November 30, 2006, after 17 years with the company.
- 4The resignation is for personal reasons and not due to any disagreements with management or accounting/operating policies.
- 5Oracle has begun the search for a new Chief Accounting Officer.
- 6Safra A. Catz, President and Chief Financial Officer, signed the report, indicating oversight of financial reporting matters.