Conway&#39;s Firing Shocks Industry
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PeopleSoft denies action is related to Oracle, and some say it may be result of poor financial performance. By Rick Whiting. PeopleSoft Inc.
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Board cites "lack of confidence" in Craig Conway as software maker battles a hostile takeover.
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Oracle charged that PeopleSoft&#39;s ousted chief executive, Craig A. Conway, lied to analysts in telling them that the Oracle takeover bid was no longer a factor in PeopleSoft&#39;s ability to write new business.
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Fresh off his abrupt firing as PeopleSoft Inc.'s chief executive, an uncharacteristically subdued Craig Conway went to court yesterday to defend his caustic attacks against Oracle Corp.'s $7.7 billion takeover bid.
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A director of PeopleSoft said that Craig A. Conway, the company's chief, was fired in part because he made false statements at an analysts' conference in September 2003.
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NEW YORK: PeopleSoft Inc., which is trying to fight off a hostile takeover by rival Oracle Corp., on Friday said its board had ousted President and Chief Executive Craig Conway due to &quot;a loss of confidence&quot; in his ability to lead the software company.
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Opinion: In replacing fired CEO Craig Conway, PeopleSoft founder Dave Duffield may prove to be the only one who can save his company from an Oracle takeover.
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In the wake of a 15-month-long battle for its life, PeopleSoft Inc.&#39;s board of directors fired CEO Craig Conway Friday morning.
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On 1 October 2004, PeopleSoft&#39;s board of directors terminated Conway as president and CEO, citing a &quot;loss of confidence&quot; in his ability to lead the company.
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Craig Conway, the former chief executive of PeopleSoft Inc., will get at least &#36;3.2 million in severance, the company disclosed.
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In a surprise move, the business software maker fired CEO Craig Conway Friday, saying it has has lost confidence in the feisty leader who engineered the company's dogged resistance to a takeover bid by rival Oracle Corp.
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PeopleSoft's board ousted Craig Conway as CEO after he made a misleading statement about the company's ability to recruit customers while fending off Oracle's &#36;7.7 billion hostile takeover bid, a PeopleSoft board member testified in court Monday.
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He was replaced by the company&#39;s founder and chairman, Dave Duffield, who served as chief executive from PeopleSoft&#39;s incorporation in 1987 through 1999, when he turned the reins over to Conway.
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PeopleSoft Inc., in the midst of fighting a takeover bid from Oracle Corp., is &quot;in better shape&quot; because of the departures of Chief Executive Craig Conway and a senior technology official, a director testified.
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Why did PeopleSoft, in the midst of a takeover fight with Oracle, fire its chief executive and president? Who knows? And that's a problem.
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The news comes on the same day that business software maker PeopleSoft Inc. fired CEO Craig Conway, the feisty leader who engineered the company's dogged resistance to a $7.7 billion takeover bid by rival Oracle.
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Within two weeks of the firing of CEO Craig Conway, business applications vendor PeopleSoft Inc. has seen the departure of another top executive, Ram Gupta, executive vice president of products and technology.