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Oracle COO resigns
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July 1, 2000: 6:51 a.m. ET
Ray Lane steps down in surprise move; 'no link' to MSFT probe
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LONDON (CNNfn) - Oracle Corp., the world's second-largest software maker, announced Friday that its president and chief operating officer Ray Lane had resigned, ending months of speculation about his future.
Oracle broke the news in a short statement late Friday which gave no details other than Lane's departure. However, company officials later denied that the resignation was connected to revelations that Oracle had financed a probe into archrival Microsoft Corp (MSFT: Research, Estimates), according to published media reports.
Oracle acknowledged on Jun. 28 that it had financed private investigators to monitor Microsoft and its allies in their defense against the antitrust charges leveled at the Seattle-based firm by the U.S. Department of Justice.
"I am grateful to Ray for all of his efforts," Oracle Chief Executive Larry Ellison said in the statement. "He will be missed. We wish him nothing but the best." Oracle gave no details of a successor for Lane, with analysts expecting Ellison to assume the positions on an interim basis.
Lane joined Oracle in 1992 from consulting company Booz Allen & Hamilton Inc., and has been credited by analysts for his leadership of the firm's 7,000-strong sales force.
While the flamboyant Ellison was the public face of Oracle and determined its strategic direction, Lane was also seen to have boosted its profile with the financial and investor community.
Lane made no statement about his future, but will remain on the Oracle board. In recent months he had been linked by media reports with a number of positions at other technology firms, including the then-vacant top spot at Hewlett-Packard Inc (HP: Research, Estimates).
Oracle (ORCL: Research, Estimates) shares closed up 3-3/16 at 84-1/16 on Friday. 
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