Conway 'terminated' as PeopleSoft chief exec

The PeopleSoft board has decided to "terminate" Craig Conway as its president and chief executive, saying that it has lost confidence in his ability to lead the company.

Dave Duffield, founder and chairman of the enterprise resource planning company, will replace Conway as chief executive.

Aneel Bhusri, a PeopleSoft director since 1999, will become vice president, and current board members Kevin Parker and Phil Wilmington will act as co-presidents.

"These appointments followed the board's decision to terminate Craig Conway as president and chief executive of the company, effective immediately," PeopleSoft said in a statement.

"The board said its decision resulted from a loss of confidence in Mr Conway's ability to continue to lead the company. All of these decisions received the unanimous vote of the independent directors."

Conway has been pivotal in PeopleSoft's opposition to Oracle's hostile takeover bid launched in June 2003.

Parker will continue to carry out his present role as chief financial officer, and Wilmington will assume responsibility for worldwide field operations. Bhusri's focus will be on technology and product strategy.

Duffield said in a statement: "I am excited to be returning to PeopleSoft on a full time basis and look forward to working with our strong, talented senior management team.

"My priority is to build on the core values on which this company was founded. We will focus on technology innovation, a relentless commitment to our customers, and a renewed drive to keep PeopleSoft a great place to work for all employees."