Exec admits affair with billboard woman

/ Source: The Associated Press

A co-president of software maker Oracle acknowledges he had an affair with a woman he was shown snuggling with on billboards in New York, Atlanta and San Francisco.

Charles Phillips released a statement Thursday about his relationship with YaVaughnie Wilkins after blogs went abuzz over the mysterious billboards.

The statement says he had an "8½ year serious relationship" with Wilkins but it has ended, and his divorce proceedings began in 2008.

Wilkins did not respond to calls for comment, and no one has taken credit for the billboards, which were taken down by Friday.

Phillips is a co-president of Oracle Corp. According to the company's Web site, he was appointed last year to President Obama's Economic Recovery Advisory Board.