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Steve Cakebread, Salesforce.coms CFO, has been promoted to the position of president and chief strategy officer—a reversal from previously announced plans.
Salesforce.com announced in June 2006 that Cakebread would retire at the end of last year. At some point Cakebread quietly changed his mind, and will now lead the companys charge into international markets, officials said in an Aug. 20 press release.
Salesforce.com also announced that it has hired Cakebreads re-placement. Graham Smith, who has a 20-year background in finance, has been named as the CFO designate.
He will take on the CFO role in the companys first quarter of fiscal 2008 (February through April 2008).
Once that happens Cakebreads focus will shift from financials to global strategy, with a particular focus on expanding the companys international business, company officials said.
To read about how Salesforce.coms earnings beat the estimates, click here.
In addition he will continue in his capacity as executive vice chairman of the companys majority-owned subsidiary, Salesforce.com Japan.
Smith is currently the CFO of Advent Software, which provides software to the investment management industry. Some media watchers have speculated Smiths background might bring Salesforce.com more squarely into the financial services arena.
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