Oracle Corp., which is attempting a hostile takeover of PeopleSoft Inc., announced on Friday a slate of nominees to the PeopleSoft board of directors and intentions to try to expand the board to nine members.
The board expansion attempt is contingent on whether PeopleSoft Director Michael Maples is not up for election, according to Oracle.
"We believe that the incumbent PeopleSoft Board of Directors has consistently refused to consider its stockholders' best interests regarding the Oracle tender offer. We intend to nominate a slate of directors who will exercise independent judgment in considering the Oracle tender offer and any other matters before the PeopleSoft board and provide independent representation for the true owners of PeopleSoft, the stockholders," said Oracle spokesman Jim Finn in a prepared statement.
Oracle's nominees include Duke Bristow, economist at the UCLA Anderson School of Management; Richard L. Clemmer, president of Venture Capital Tech and former CEO of PurchasePro.com; Roger Noall, former senior executive vice president and chief administrative officer of KeyCorp; Laurence E. Paul, managing principal of Laurel Crown Capital, and Artur Raviv, professor of finance at Kellogg Graduate School of Management, Northwestern University.