Oracle's CFO Resigns, Co-President Takes Role

As a result of the change, Catz will hold the titles of president and CFO. Her appointment is permanent one, the company said.

Jeff Epstein became CFO in 2008, replacing Catz who at that time served as interim CFO. The Wall Street Journal reported that, prior to Epstein's taking over of the CFO position, it was held by two other executives who both served for less than one year.

Catz, who joined Oracle in 1999, became president of the company in 2004. She joined the company's Board of Directors in 2001.

Oracle called the choice of Catz as permanent CFO was "logical" given that Catz had held the position in the past and that the CFO position reported to her.

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

Catz is one of two presidents at Oracle, both of whom report directly to Ellison.

The other is Mark Hurd, who joined Oracle as president in September after leaving the president and CEO position at Hewlett-Packard.

Jeff Henley, chairman of Oracle’s Board of Directors, said in a statement, “The CFO function has reported to Safra for a number of years and she’s acted as Oracle’s CFO in the past. She has the full support of the Board. On behalf of the Board, I’d also like to thank Jeff Epstein for his many contributions to the company during the past few years and wish him all the best for the future.”

Oracle did not respond to requests for more information at press time.