Oracle Loses Another Executive

Oracle Corp. disclosed that another of its top executives has defected from the software company, continuing a management drain that has raised investor concerns.

Jay Nussbaum is stepping down as an executive vice president of service industries after 10 years at Oracle to accept a position at an unidentified Oracle business partner, Chief Executive Larry Ellison said in a memo to employees. An Oracle spokesman said Nussbaum is leaving on amicable terms. Ellison will divide Nussbaum’s position among four other executives.

Oracle’s stock fell 16 cents to close at $14.03 on Nasdaq.