Ray Lane Quits as President of No. 2 Software Maker Oracle

Oracle Corp., the world’s second-largest software maker, said President and Chief Operating Officer Ray Lane resigned from the company. Lane will remain on the board of directors, and Chief Executive Larry Ellison will assume Lane’s responsibilities for now, Oracle said. Lane’s resignation, while rumored for months, nonetheless leaves Oracle without one of its senior managers, and could still temporarily disrupt the business, analysts say. Lane had responsibility for Oracle’s 500-person sales force, and oversaw Oracle’s online business marketplaces for parts and supplies. “He’s had his hands in the day-to-day operations of the business and he will be hard to replace,” said Christian Koch, senior technology analyst at Trusco Capital Management. “He’s a pillar in Oracle’s management structure, and when you lose a pillar, it makes the structure more unstable.” Lane joined Oracle in 1992 as president and was named chief operating officer in 1997. He was one of Oracle’s top three executives, along with Chief Financial Officer Jeff Henley and Senior Vice President Gary Bloom. Oracle’s shares rose 3.19 to close at 84.06 on Nasdaq.