PeopleSoft fires its CEO; shares rise 15%
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PeopleSoft Inc. fired chief executive Craig Conway, raising the likelihood that the business-software maker may give up a 16-month fight against Oracle Corp.
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PeopleSoft Inc.'s board fired Craig Conway as chief executive after hearing him explain why he deceived industry analysts about the business software maker's sale prospects while fighting rival Oracle Corp.'s &#36;7.7 billion takeover bid.
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David Duffield has resigned as PeopleSoft's chief executive officer and chairman less than three months after taking over again as CEO at the company he founded and which is in the process of being acquired by rival Oracle.
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The companies&#39; merger is expected to close in early January. PeopleSoft founder Dave Duffield, who returned as CEO during the company&#39;s fight to prevent Oracle&#39;s bid, resigned as chairman, CEO and director on December 21.
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PeopleSoft Inc. Chief Executive Officer (CEO) and President Craig Conway was shown the door on Friday by the company's board of directors, who immediately replaced him with Dave Duffield, PeopleSoft's founder and chairman.
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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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PeopleSoft Inc. shares surged 15 percent as investors interpreted the ouster of the company&#39;s chief executive as a sign the company might now be willing to accept Oracle Corp.
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Business software maker PeopleSoft said it was dumping president and chief executive Craig Conway, who has led the fight against a hostile takeover effort from rival Oracle.
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Within two weeks of the firing of CEO Craig Conway, PeopleSoft has seen the departure of Ram Gupta, senior vice president of products and technology.
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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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PeopleSoft founder David Duffield, who replaced fired CEO Craig Conway in October, quietly resigned effective Dec. 21, less than two weeks before Oracle is scheduled to close its buyout of its software-industry rival.
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just in PeopleSoft Chairman and CEO David Duffield has resigned from the company, effective Dec. 21, according to a filing Tuesday with the US Securities and Exchange Commission.
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PeopleSoft Chairman and CEO David Duffield has resigned from the company, effective Dec. 21, according to a filing Tuesday with the US Securities and Exchange Commission.
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PeopleSoft Inc. PSFT.O on Friday  said its board had ousted President and Chief Executive Craig  Conway, who has been the chief opponent of Oracle Corp.'s  ORCL.O $7.7 billion hostile bid to take over the software  company.
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NEW YORK (CBS.MW) -- PeopleSoft shares jumped over 8 percent Friday after the software company fired CEO Craig Conway in a move viewed as paving the way for a new takeover bid from rival Oracle Corp.
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Last week's firing of Craig Conway as PeopleSoft's CEO, followed by testimony from a PeopleSoft director this week that he would be open to discussions with Oracle if the price was right, appears to have changed the dynamics between the two companies.
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PeopleSoft (nasdaq: PSFT - news - people ) Chairman and Chief Executive David A. Duffield has resigned his posts, according to a regulatory filing Tuesday.