Ray Lane resigns as Oracle president, COO

author-image
CIOL Bureau
Updated On
New Update

NEW YORK: Oracle Corp., the world's second-biggest software maker, said on
Friday that Ray Lane resigned as president and chief operating officer.

Advertisment

Oracle spokeswoman Jennifer Glass declined to comment on why Lane was leaving
his post.

"I am grateful to Ray for all of his efforts," Oracle chief
executive Larry Ellison said in a statement. "He will be missed. We wish
him nothing but the best."

Glass said Lane's departure had nothing to do with the news earlier this week
that Oracle had a hired a private detective agency to investigate allies and
groups that support Microsoft Corp., the world's biggest software firm.

Advertisment

Oracle has been a high-flyer in the technology sector for the past 18 months
but Wall Street analysts have recently questioned whether the company, the
world's biggest maker of database software, has already seen its best days.

The company said Lane would remain on the Oracle board of directors.

Shares of Oracle rose 3-3/16 to close at 84-1/16 on Friday on the Nasdaq
stock market. The stock has traded in a range between 17-5/16 and 90 in the past
year.

Advertisment

(C) Reuters Limited 2000.

tech-news