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Oracle

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was down $4.06, or 14%, to $24.75 in preopen trading this morning on news that its executive vice president, Gary Bloom, was leaving to take on the roles of president and CEO of storage management software maker

Veritas Software

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Bloom, who worked for software maker Oracle for 14 years, was in charge of the company's core database business and led the company's Internet and e-business units.

Oracle's chief financial officer, Jeff Henley, has recently denied rumors that he was on the verge of leaving the company.

Bloom's departure is the second big executive departure for Oracle in the last few months. Ray Lane, Oracle's chief operating officer, left the company in July.

For more, check out

TheStreet.com's

separate story on Oracle's

leadership changes.