Raymond J. Lane

Last updated
Raymond J. Lane
Born (1946-12-26) 26 December 1946 (age 76)
McKeesport, Pennsylvania
Occupation(s)Entrepreneur, consultant
Known forInvestment Strategy, Business Consulting, Technology, Alternative Energy
TitleManaging Partners at GreatPoint Ventures
SpouseStephanie
Children5
Website KPCB

Raymond J. Lane (born December 26, 1946) is an American business executive and strategist specializing in technology and finance. Lane is best known for assisting corporations with technology strategy, organizational development, team building, and sales and growth management. [1]

Contents

Lane led a "go to market" overhaul of Oracle Corporation, which led to an increase in sales and stock price in the 1990s. [2] [3] He is cited as being the catalyst for "Oracle's success, ‘past, present and future.’" [2] [3]

Lane is a partner emeritus at Kleiner, Perkins, Caufield & Byers, a venture capital firm in Silicon Valley. [4] [5] He managed investments and held board membership in startup companies, including the development of enterprise technology and alternative energy. [6] [7] [8]

Early life and education

Raymond Jay Lane was born on December 26, 1946, in McKeesport, Pennsylvania, near Pittsburgh. [6] [9] Lane grew up in rural western Pennsylvania where his father was employed as a design engineer for steel production plants. [2] [9] [10] Lane was heavily influenced by his father, who had emerged from the Depression-era steel business as the first member of his family to go to college, graduating from Carnegie Mellon as a mechanical engineer. [6] [9]

Lane attended public schools, graduating from Moon High School in 1964. [9] [10] Wishing to follow in his father's footsteps, Lane first pursued a collegiate career in aeronautical engineering at West Virginia University (WVU). [9] He later changed his major and graduated with a bachelor's degree in mathematics in 1968. [10] [11]

Career

IBM

Shortly after graduating, Lane was recruited to IBM's data processing division for a sales position. [2] [9] In 1969, Lane was drafted to the U.S. Army, assigned to the 1st Infantry Division at Fort Riley, Kansas. Because of his computer knowledge, he was made a systems analyst responsible for logistical computer systems. He completed two years of military service and resumed his career in 1971 at IBM, achieving top sales awards for three years and being promoted to a product manager responsible for large mainframe and storage systems in one of IBM's largest regions. [9]

EDS

After eight years with IBM, Lane was recruited by Electronic Data Systems (EDS), led at the time by Ross Perot. [9] He was handed responsibility for a new division that provided services to large manufacturers, distributors, and retail and transportation companies. [12] Lane ran the nascent division for nearly four years. [9]

Booz Allen Hamilton

In 1981 Lane accepted a principal position with Booz Allen Hamilton in Chicago. [13] At Booz Allen, he helped develop information technology strategies. [9] Lane became a partner in three years and a senior partner by 1986. [9] [13] He led the development in the late 1980s of became known as Information Systems Group, one of two functional practices, and four industry practices that were the firm's primary organization. [14] He sat on the firm's executive committee and board of directors from 1987 to 1992. [15]

Oracle

In 1992, Lane was recruited by Oracle Corporation to turn around the firm's sales, service, consulting and marketing, [2] and named president of Oracle USA in June. [16] Oracle, suffering from rapid growth in the late '80s without checks and balances on its customer practices, was also falling behind technologically. [9] The rapid turnaround in the mid-90s, fueled by a new database technology, Oracle 7, and by Lane's organization of sales and services at the company, led to the rise of Oracle's business applications division. [9] [13] [16] Apple founder Steve Jobs recalled that "Larry told me that 15 minutes into the meeting, he knew Ray was the only guy he had met who was near smart enough to run Oracle." [2] In 1996, Lane was named the president and chief operating officer of Oracle. [9] [17] Under his leadership, along with Larry Ellison and Jeff Henley, Oracle expanded from 7,500 to 40,000 employees, defeating its main database rivals Sybase and Informix, to become the leader in the database industry while building major businesses in ERP applications and consulting. [9] [18] [19] [20] In mid-2000, Lane suddenly left the company, leading to speculation Oracle's business needs had outgrown him. [21]

Kleiner Perkins Caufield & Byers

In 2000, Lane accepted a position with Kleiner Perkins Caufield & Byers. [8] [9] Lane's work at KPCB centered on enterprise technology and alternative energy. [8] [22] As of 2013 Lane became partner emeritus of Kleiner Perkins. [8] He serves as chairman of the board of Elance, an online staffing platform, and of Aquion Energy. [23]

HP

Lane served as non-executive chairman on Hewlett-Packard's board of directors from 2010 to 2011, and as executive chairman from 2011 to 2013. [24] [25] Lane restructured the board to add seven new directors, replaced the short-tenured CEO Leo Apotheker, and led the placement of Meg Whitman as CEO. [24] [25] [26] Lane was chairman when HP decided to acquire Autonomy Corporation, a controversial acquisition that led him to step down as chairman, but remain on the board of directors. [26]

GreatPoint Ventures

Lane currently serves as a Managing Partner at GreatPoint Ventures, a venture capital firm headquartered in San Francisco, CA.

Tax dispute

In 2013, it was reported that Lane was involved in a personal tax dispute. [6] The case stemmed from a tax year 2000 audit that reviewed an investment in a tax strategy used by Lane's advisors called POPS (Partnership Option Portfolio Securities) to offset a minority of Lane's income. [6] [7] Lane agreed to settle in excess of $100 million. [6] [27] [28]

On January 3, 2014, Lane filed a lawsuit against Deutsche Bank, and BDO Seidman, LLP alleging that he had suffered damage as a result of their having designed an allegedly "fraudulent" tax shelter. [29] [30] [31]

Personal life and philanthropy

Lane has three children, Kristi, Kelley, and Kari, with his first wife, Donna. [9] He is married to Stephanie (Herle) Lane, with whom he has two children, Raymond Jay Lane III ("RJay") and Catherine Victoria ("Tori"). [9] [10] [32]

Lane is actively involved in philanthropic endeavors, with a focus on higher education, the Special Olympics, and Cancer Research. [33]

As the chairman of the board of trustees of Carnegie Mellon University. [1] [34] [35] , Lane spearheaded the institution's capital campaign and played a pivotal role in establishing its Silicon Valley campus in 2002 [1] . A significant contribution came in 2010 when the Lanes funded the Carnegie Mellon's Computational Biology program (The Lane Center for Computational Biology), which has since involved into the Computational Biology Department, one of seven degree-granting departments in the School of Computer Science. [10] [36] Additionally, Lane endowed a professorship chair, initially held by Robert F. Murphy [10] [37] , the Founding Head of the Computational Biology Department. The Ray and Stephanie Lane Endowed Professorship is currently held by Jian Ma.

Lane also extends his support to his alma mater, West Virginia University, where he serves on its board of governors. [8] He led a WVU capital campaign in the early 2000s. [10] In recognition of a generous $5 million donation by the Lanes in September 2007, aimed at bolstering the university's Computer Science and Electrical Engineering programs, WVU named the department The Lane Department of Computer Science and Electrical Engineering. [10] [36]

In addition to his educational philanthropy, Lane has served as vice chairman of Special Olympics International for several years. [1] [38] In October 2011, Ray and Stephanie funded the organization's international expansion project, Unify, aimed at fostering inclusivity by bringing together school-aged youth with intellectual disabilities and their non-disabled peers. [39]

Ray and Stephanie Lane are also notable contributors to the American Cancer Society, organizing and sponsoring events to raise funds. [10] [40] They initiated and funded the Stephanie H. Lane Cancer Research Network, a central service in California dedicated to providing cancer patients with essential information and treatment resources. [10] [39]

As of 2019, Lane is an advisor for Inxeption, a California-based technology platform. [41]

Recognition

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References

  1. 1 2 3 4 "Raymond Lane". Forbes. Archived from the original on December 14, 2012. Retrieved 29 July 2013.
  2. 1 2 3 4 5 6 Abate, Tom (4 September 1997). "Oracle's First-Rate Second in Command / Ray Lane makes Larry Ellison's visions a reality". SFGate. Retrieved 29 July 2013.
  3. 1 2 "A Conversation with Ray Lane: From the Turnaround at Oracle to the Chairmanship at Hewlett Packard". The American Entrepreneur. Retrieved 29 July 2013.
  4. 1 2 3 "Executive Profile: Raymond J. Lane Ph.D." Bloomberg Businessweek. Archived from the original on May 21, 2014. Retrieved 29 July 2013.
  5. ↑ "Kleiner Perkins". Mashable. Retrieved 29 July 2013.
  6. 1 2 3 4 5 6 Ricadela, Aaron; Zajac, Andrew; Hymowitz, Carol. "HP's Lane Faces $100 Million Bill on Tax Shelter Denial". Bloomberg. Retrieved 29 July 2013.
  7. 1 2 Gupta, Poornima (7 June 2013). "HP board member Ray Lane settles long-running tax issue". Reuters. Retrieved 29 July 2013.
  8. 1 2 3 4 5 "Ray Lane". KPCB--Kleiner Perkins Caufield & Byers. Retrieved 29 July 2013.
  9. 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 "Raymond J. Lane: Oral History (Transcript)" (PDF). Computerworld Honors Foundation. Retrieved 29 July 2013.
  10. 1 2 3 4 5 6 7 8 9 10 11 12 "About Ray Lane". West Virginia University: Lane Department of Computer Science and Electrical Engineering. Retrieved 29 July 2013.
  11. 1 2 "2003 Inductees Raymond J. Lane". West Virginia University: College of Business and Economics. 2003. Archived from the original on August 28, 2006. Retrieved January 27, 2017.
  12. ↑ Riddell, Lindsay. "Ray Lane, managing partner of Kleiner Perkins Caufield & Byers". San Francisco Business Times. Retrieved 29 July 2013.
  13. 1 2 3 Pitta, Julie (14 June 1999). "Fast Lane". Forbes. Archived from the original on 3 August 2013. Retrieved 29 July 2013.
  14. ↑ "Ray Lane: Kleiner Perkins Caufield & Byers". eCorner: Stanford University. Retrieved 29 July 2013.
  15. ↑ "SEEBEYOND TECHNOLOGY CORP, Form S-3, Filing Date Jan 29, 2002". secdatabase.com. Retrieved May 15, 2018.
  16. 1 2 "Oracle President Ousted Ahead Of Version 7 Launch". Computer Business Review. 22 June 1992.{{cite journal}}: Cite journal requires |journal= (help)
  17. ↑ "Raymond J. Lane Named President and COO of Oracle Corp". EE Times. Retrieved 29 July 2013.
  18. ↑ "Elster Improves Technology Infrastructure Using Oracle Database, Oracle Enterprise Linux, and Oracle Real Application Clusters" (PDF). Oracle Partner Case study. Retrieved 29 July 2013.
  19. ↑ Smith, Tom. "Sybase, Oracle to reconcile discord". HighBeam Business. Archived from the original on 9 March 2016. Retrieved 30 July 2013.
  20. ↑ "Stan Slap". Agricultural Speakers Network. Retrieved 30 July 2013.
  21. ↑ Einstein, David. "Why Ray Lane Left Oracle". Forbes. Retrieved 30 July 2013.
  22. 1 2 Wittmann, Art (12 October 2011). "Inside Ray Lane's Silicon Valley". Information Week: Global CIO. Retrieved 30 July 2013.
  23. ↑ "Ray Lane, Chairman". Aquion Energy. Retrieved January 27, 2017.
  24. 1 2 "Board of Directors". HP. Retrieved 30 July 2013.
  25. 1 2 "Corporate governance biography: Raymond J. Lane". HP. Retrieved 30 July 2013.
  26. 1 2 Pfeffer, Jeffrey (8 April 2013). "Ray Lane, Hewlett-Packard, and the State of Corporate Governance". Bloomberg Businessweek. Archived from the original on April 10, 2013. Retrieved 18 September 2014.
  27. ↑ Ovide, Shira; Chernova, Yuliya (6 June 2013). "Ray Lane Signs Deal to Pay $100 Million Tax Bill". Wall Street Journal. Retrieved 18 September 2014.
  28. ↑ "Ex-HP Chairman Lane Faces $100 Million Bill on Tax Shelter Denial". Money News. 6 June 2013. Retrieved 18 September 2014.
  29. ↑ "Deutsche Bank, BDO Seidman Sued by Lane Over Tax Shelter". Bloomberg. January 4, 2014.
  30. ↑ "RJ Lane Sues Deutsche Bank". Venture Capital Post. January 4, 2014.
  31. ↑ "Ray Lane Sues Deutsche Bank, BDO Seidman, Arnold & Porter". Wealth-X. 6 January 2014. Retrieved 18 September 2014.
  32. ↑ Thomas, Owen. "Meet All The Players In The Kleiner Sex Scandal That's Rocking Silicon Valley". Business Insider. Retrieved 30 July 2013.
  33. ↑ Riddell, Lindsay. "Ray Lane, managing partner of Kleiner Perkins Caufield & Byers". San Francisco Business Times. Retrieved 29 July 2013.
  34. ↑ Walters, Ken. "Raymond J. Lane Named Chairman of Carnegie Mellon's Board of Trustees". Carnegie Mellon University. Retrieved 18 September 2014.
  35. ↑ "2003 Inductees". West Virginia University. Archived from the original on 28 August 2006. Retrieved 18 September 2014.
  36. 1 2 3 4 "Carnegie Mellon Establishes Ray and Stephanie Lane Center for Computational Biology". Carnegie Mellon University. Retrieved 30 July 2013.
  37. ↑ "Mellon College of Science News" (PDF). Carnegie Mellon University. Retrieved 30 July 2013.
  38. ↑ "Letters to Eunice Kennedy Shriver A Letter from Stephanie and Ray Lane". Eunice Kennedy Shriver: One Woman's Vision. Retrieved 30 July 2013.
  39. 1 2 "Powering the Global Growth of Special Olympics' Project UNIFY". Special Olympics. Retrieved 30 July 2013.
  40. ↑ Vance, Ashlee. "Outgoing HP Chairman Ray Lane Takes a Beating". Bloomberg Businessweek. Archived from the original on April 7, 2013. Retrieved 30 July 2013.
  41. ↑ "Inxeption Advisors". Inxeption. 2019-01-05. Retrieved 2019-04-10.
  42. ↑ "Alumni and Development". West Virginia University. Retrieved 30 July 2013.
  43. ↑ "Man of the Year".
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