Peoplesoft ousts CEO

PeopleSoft Inc.'s board fired chief executive officer Craig Conway, citing "a loss of confidence in Mr. Conway's ability to continue to lead the company."

PeopleSoft founder and chairman Dave Duffield will take Conway's place.

The move came the same day that the Justice Department cleared the way for Oracle Corp. to proceed with its $7.7 billion hostile takeover of Pleasanton, Calif.-based PeopleSoft, a battle that began 15 months ago.