Oracle's Kurian to step down as president of product development 

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Business software maker Oracle said on Friday Thomas Kurian, its president of product development would be stepping down, effective immediately.

Kurian's responsibilities have been reassigned to other senior executives, the company said in a filing.

Earlier this month, Oracle said Kurian was taking a break and the company expected him back.

Kurian joined Oracle from McKinsey in 1996 and was previously responsible for developing cloud computing products, an area where the company has struggled to gain traction against Salesforce, Microsoft, Amazon, and others.