Out-Law / Your Daily Need-To-Know

Raymond Lane, the president and chief operating officer of Oracle, the second largest software manufacturer in the world, has announced that he will be stepping down from his post. He will continue as a member of the company's board of directors but he will no longer be involved in its daily running.

This news comes shortly after the company’s admission that it had employed detective agents to spy on organisations supported by its main rival Microsoft. However, Oracle has stated that Lane’s departure is not a direct result of that incident. His resignation had been rumoured for about a year and has been attributed more to the changing strategy of Oracle. The company is now concentrating on internet related work, a change from its previous focus on database software.

No one has been appointed to take over Lane’s work and it is expected that Larry Ellison, the chief executive of Oracle, will cover his responsibilities for the immediate future. Ellison commented “I am grateful to Ray for all of his efforts... He will be missed. We wish him nothing but the best”.

We are processing your request. \n Thank you for your patience. An error occurred. This could be due to inactivity on the page - please try again.