Oracle Dismisses PeopleSoft Execs

Oracle Corp. fired PeopleSoft Corp.’s co-president and chief financial officer, Kevin Parker, and three other top executives, replacing them with Oracle executives as part of its $10.3-billion takeover.

Oracle dismissed W. Phillip Wilmington, co-president; Nanci Caldwell, chief marketing officer; and James Shaughnessy, general counsel, according to a regulatory filing Thursday.

Redwood City, Calif.-based Oracle named its top executives, Co-Presidents Charles Phillips Jr. and Safra Catz and Chief Financial Officer Harry You, to the same posts at PeopleSoft.

The Oracle executives are taking over as they prepare to combine the two companies and create the world’s second-largest business software maker, behind Germany’s SAP.

Oracle officially took control Wednesday, ending an 18-month hostile-takeover battle. The merged company has more than 22,750 customers and more than 53,800 employees.

Oracle shares rose 16 cents to $13.88 on Nasdaq on Thurs- day. They have gained 4.9% this year.