New Delhi, April 7 -- Oracle Corporation on Monday announced the appointment of Hilary Maxson as its new Chief Financial Officer (CFO), just days after the technology giant carried out a sweeping round of layoffs that impacted nearly 30,000 employees worldwide.

The executive joins from Schneider Electric, where she served as CFO and Executive Vice President for about six years.

Oracle said that her appointment is effective immediately.

In a statement, Oracle said that Maxson will begin her tenure during a period of "rapid growth" as customer demand for cloud infrastructure exceeds supply. She will report to co-CEO Clay Magouyrk in her new role.

Maxson, 48, will earn an annual base salary of $950,000. She will also be eligible for a pe...