In an unorthodox business move, Greg Maffei '82 was named co-president and chief financial officer of Oracle Corporation last week. Maffei will service alongside co-presidents Safra Catz and Charles Phillips to lead the mega-software company.
Maffei will assume control of the company's legal affairs, human resources and manufacturing and distribution, as well as handle its worldwide real estate when he begins work in July. Regarded by his business associates as a great deal maker, Maffei was hired to lead the Oracle Corporation in its acquisition goals.
The Dartmouth alum is already renowned in his field for the time he previously served as CFO of Microsoft from July 1997 until January 2000. During his tenure at Microsoft, Maffei oversaw the company's $35 billion cash investment portfolio and led the company to win CFO Magazine's Excellence award twice as it quadrupled its market cap. Since joining Microsoft in 1993, Maffei has served as the company's vice president of corporate development, treasurer, and director of business development and investments.
Maffei is also credited with being instrumental in the creation of the MSNBC cable news network, a joint venture between Microsoft and NBC.
Maffei was unavailable for comment, but in an Oracle press release, he said he believes Oracle is one of the premier franchises in its particular field.
"I am excited to help lead the company during this next round of growth."
Oracle experienced a bitterly- fought $10.6 billion takeover of technology firm Peoplesoft in addition to four other corporate takeovers earlier this year. The company plans to further pursue the acquisition of additional corporations as Maffei begins his tenure.
Bert Hochfeld of Hochfeld Independent Research Group commented in a CNN Money online article that Oracle will become even more aggressive with Maffei sitting on its board.
"Most people think he's going to help close some of the deals that Oracle is trying to close," Hochfeld said.
Prior to being tapped for the position at Oracle, Maffei served as chairman and chief executive of 360networks, a telecommunications service company based in Seattle.
In the Oracle press release, current CEO Larry Ellison expressed his excitement to work with Maffei. "Greg is an exceptional executive with a wealth of experience in the software and telecommunications industries," Ellison said.
Trip Chowdhry, an analyst for FTN Midwest Research, said he believes Maffei will employ a style similar to the one he used with Microsoft to close Oracle's acquisitions, probably acquiring one company on a monthly basis, as was customary with Microsoft.
Chowdhry told the Associated Press, "It will successfully transform itself from being a database company to the leading enterprise solutions company."
After graduating from Dartmouth, Maffei earned his M.B.A. from Harvard Business School. He currently serves as a director of Electronic Arts and Starbucks Corporation, as well as chairman of the board of the Seattle Public Library.
