Oracle is Said to Announce Reorganization
May 21st 2015 Posted at Databases
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Oracle’s share price fell by 2.1 percent on Monday. The unconfirmed reports showed that the commercial software developers are preparing to announce the restructuring and the North America’s top sales executives will leave.
Several security analysts tracking Oracle news discussed Oracle’s reorganization on Monday. Although they have different views of the restructuring, all of them got the news that Keith Block will end his 26 year career at Oracle. In the past decade, Bullock was Oracle’s sales executive vice president and consultant of North America.
Nomura Security analyst Rick Sherlund said, he received news from an anonymous industry sources, saying that Block has left Oracle over the weekend. JP Morgan Securities Inc., JMP Securities analyst Patrick Walravens believed that Bullock’s departure is part of the Oracle’s “massive” reorganization.
Oracle has not yet responded to the identity of Block. But by Monday afternoon, Block’s personal resume was still retained on the Oracle website. Things will become clear on Thursday, when Oracle will release the financial report in the fourth quarter.
During the period of litigation between Oracle and Hewlett-Packard in the near future, Block made disrespectful remarks about his superiors. Oracle and HP instituted a suit against each other because the former stopped developing software for running Intel Itanium chip server.
In the process of the trial of the case, Block’s instant messaging had been submitted as evidence to the court. When talking about the transaction of Oracle’s acquisition of Sun Microsystems with $ 7.3 billion, Block said that Oracle had “bought a dog”, and that the Sun had been dead. Another instant messaging involved Mark Hurd, who is Oracle’s president as well as a close friend of Oracle’s CEO Larry Ellison.
If Block left his job, it would cause the worries of the outside world for the turmoil of Oracle’s management, having knock-on effects on Oracle’s software sales. In addition, the wider sales reorganization may or may further exacerbate this concern.
“Oracle has considerable sales management personnel with remarkable depth, so we are not very worried about Block’s departure but we are more worried about the ongoing sales reorganization,” said Sherlund.
Oracle’s share price fell by 58 cents to $ 27.12, a decrease of 2.1%. In the past year, Oracle’s highest share price is $ 34.13 and lowest is $ 24.72.
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