Oracle CFO Resigns, to Be Replaced by Safra Catz

Oracle's president, Safra Catz, will assume the role of chief financial officer following the resignation of the current CFO, Jeff Epstein, the company said Monday.

The Oracle logo is displayed on the company's world headquarters in Redwood Shores, California.
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The company offered no explanation for why Epstein has left the CFO role and could not immediately be reached for comment. The company said in a statement that it wishes him "all the best for the future."

Catz's appointment is permanent and effective immediately, the company said.

Shares of Oracle were lower after the bell Monday. Get late stock quotes here.

"Safra already has the long-standing confidence of our employees, our Board and our shareholders," Oracle CEO Larry Ellison said in a statement. "There is no more logical choice for CFO."

Catz has been president since January 2004. She previously served as the Oracle's chief financial officer from November 2005 to September 2008.