Oracle names former Defense Secretary Leon Panetta director, expands board to 12 members

MarketsAssociated Press

Oracle Corp. said Monday it named Leon Panetta a director, effective immediately.

The business software developer says the addition of Panetta, who has served as defense secretary and director of the CIA, will expand its board of directors to 12 members.

Continue Reading Below

Oracle's board members serve one-year terms. Panetta, who is 76 years old, will be up for re-election at Oracle's next annual shareholder meeting in November.