Oracle Shares Fall on News of VP’s Absence
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Oracle Corp. shares fell 6.2% after the software maker said Executive Vice President Sandy Sanderson will take a six-month leave of absence for health reasons.
Sanderson, 52, is one of three executives in charge of sales in North America. He will go on leave next month and hasn’t resigned, a spokeswoman said.
Investors are concerned about Oracle’s ability to keep top managers after departures by President Ray Lane and Executive Vice President Gary Bloom, said Kash Rangan, an analyst at Dain Rauscher Wessels.
Oracle shares fell 92 cents to $14.01 on Nasdaq.
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