Business Context and Reporting Period
This Form 8-K was filed by Salesforce, Inc. on August 20, 2007. The report discloses a material change in executive leadership regarding the Chief Financial Officer position.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on personnel changes.
Material Changes
- Departure of CFO: Steve Cakebread, current Chief Financial Officer, will transition to the role of President and Chief Strategy Officer in the first quarter of Fiscal 2009 (February-April 2008).
- Appointment of New CFO: Graham V. Smith will join as Executive Vice President and Chief Financial Officer Designate in the fourth quarter of Fiscal 2007.
- Transition Timeline: Mr. Cakebread will continue serving as CFO until Mr. Smith assumes the duties in the first quarter of Fiscal 2009.
Management Commentary and Background
Mr. Smith brings extensive experience from the software and investment management sectors. His background includes serving as CFO for Advent Software, Vitria Technology, and Nuance Communications. Prior to these roles, he spent eleven years at Oracle Corporation, most recently as Vice President of Finance for worldwide operations. He holds a bachelor's degree in economics and politics from Bristol University and is a member of the Institute of Chartered Accountants in England and Wales.
The Company anticipates filing an additional Form 8-K prior to or at the time of the actual transition of Mr. Smith to the CFO position.
Investor Verification Checklist
- Verify the exact start date for Graham V. Smith's tenure as CFO Designate in Q4 Fiscal 2007.
- Confirm the specific date Steve Cakebread transitions to President and Chief Strategy Officer in Q1 Fiscal 2009.
- Monitor for the subsequent Form 8-K filing regarding the finalization of the CFO transition.
- Review Mr. Smith's compensation package details once disclosed in future filings.