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November 07, 2003

* Oracle Corp. Chief Financial Officer Jeff Henley said he expected the Justice Department to make a decision about the company's $7.3-billion hostile offer to buy PeopleSoft Inc. by the end of the year.

* Christopher Galvin will stay on at Motorola Inc. as a consultant for two years after he leaves as chairman and chief executive of the telecommunications giant. Galvin will be paid a $1.4-million salary, plus the average of his annual bonuses for the years 2001 to 2003.

* Century City-based Northrop Grumman Corp. said shareholders dropped appeals of three lawsuits stemming from Lockheed Martin Corp.'s failed attempt to purchase the firm in 1998.

* R.J. Reynolds Tobacco Holdings Inc. said the Illinois Supreme Court granted the cigarette maker a stay in a case involving alleged misleading claims about "light" cigarettes. The order puts the case on hold until an appeal in a similar case pending against rival Altria Group Inc.'s Philip Morris tobacco unit is resolved.

* British American Tobacco agreed to sell its business in Myanmar after the British government asked the company to reconsider its investment there.

* Verizon Communications Inc. Chairman Charles Lee will retire at the end of the year and Chief Executive Ivan Seidenberg will take on the additional role of chairman. Lee, 63, is departing six months early because of the "successful integration" of Bell Atlantic Corp. and GTE Corp., which merged in 2000 to form Verizon.

* Penthouse International Inc. said Chairman and Chief Executive Robert Guccione was resigning. Milton Polland has been appointed chairman and acting chief executive.

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