Oracle Names Ray Bingham, Cadence Design Systems CEO, to Board of Directors

REDWOOD SHORES, Calif., Nov. 4 /PRNewswire-FirstCall/ -- ( ) Oracle Corporation (Nasdaq: ORCL), the world's largest enterprise software company, today announced the addition of H. Raymond Bingham, president and chief executive officer of Cadence Design Systems, Inc., to Oracle's Board of Directors. Prior to becoming CEO, Bingham served as Cadence's Executive Vice President and Chief Financial Officer from 1993 until April of 1999.
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    "Ray was instrumental in transforming Cadence from a $369 million supplier of Electronic Design Automation (EDA) tools, to its current $1.4 billion position as the world's leading supplier of design technology solutions and services," said Oracle Chairman and CEO Lawrence J. Ellison. "He is a wonderful addition to an already exceptional board of directors."

    Bingham becomes Oracle's tenth board member, joining Ellison and the following current board members:

        -- Jeffrey Berg, Chairman and CEO of International Creative Management,
        -- Dr. Michael J. Boskin, Tully M. Friedman Professor of Economics at
           Stanford University
        -- Safra Catz, Oracle Executive Vice President
        -- Hector Garcia-Molina, Leonard Bosack and Sandra Lerner Professor in
           the departments of computer science and electrical engineering at
           Stanford University
        -- Joseph Grundfest, William A. Franke Professor of Law and Business at
           Stanford Law School and former commissioner of the SEC
        -- Jeffrey O. Henley, Oracle Executive Vice President and Chief Financial
        -- Jack Kemp, co-director of Empower America
        -- Don Lucas, venture capitalist

    Before joining Cadence in 1993, Bingham served as executive vice president and CFO for eight years at Red Lion Hotels where he was also responsible for corporate business development.

    Prior to Red Lion, Bingham held financial positions at both Agrico Overseas Investment Company (AOIC), a subsidiary of the Williams Companies, and the Marriott Corporation.

    Bingham is former chairman and current vice chair of the board of the Electronic Design Automation Consortium (EDAC), an association consisting of more than 100 EDA companies. Here, he works closely with other Consortium members and is committed to promoting the value and image of the EDA industry.

    Bingham received a bachelor of science degree in economics from Weber State University and holds a master's degree in business administration from the Harvard Business School.

    Bingham is also a member of the board of directors at Cadence, KLA Tencor and Onyx Software Corporation.

    About Oracle

    Oracle is the world's largest enterprise software company. For more information about Oracle visit our website at


    Oracle is a registered trademark of Oracle Corporation and/or its affiliates. All other products or company names mentioned are used for identification purposes only, and may be trademarks of their respective owners.

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