Oracle defends CEO's pay amid shareholder unrest

October 2, 2013

Oracle is trying to ward off a shareholder rebellion against policies that have consistently made its billionaire co-founder, Larry Ellison, one of the best-paid CEOs in the world.

The business software maker staunchly defended Ellison's pay packages in a letter sent to shareholder activist CtW Investment Group in an effort to rally support before Oracle's annual meeting on Oct. 31.

The letter released in a Wednesday regulatory filing came in response to a scathing attack that CtW launched last week against the compensation that Ellison has been receiving for years.

Oracle Corp. awarded Ellison a valued at $78.4 million in its last fiscal year, down from $96.2 million the previous year.

Ellison could have made more last year if he hadn't turned down a $1.2 million bonus.

Explore further: Oracle CEO Ellison's pay drops 18 pct to $78.4M

Related Stories

Oracle CEO Ellison's pay drops 18 pct to $78.4M

September 21, 2013

The value of Oracle founder and CEO Larry Ellison's pay package dropped 18 percent in fiscal 2013, to $78.4 million, after the company missed its internal financial targets and he declined his annual cash bonus.

Oracle CEO skips speech to watch America's Cup

September 24, 2013

Oracle CEO Larry Ellison is so immersed in his boating team's stirring comeback in the America's Cup that he backed out of giving the keynote speech at his software company's biggest customer conference of the year.

Oracle CEO mulled expansion into smartphones

April 17, 2012

(AP) -- Oracle CEO Larry Ellison says he wanted to compete against Google's Android software in the smartphone market before deciding to sue his potential rival instead.

Recommended for you

Google braces for huge EU fine over Android

July 18, 2018

Google prepared Wednesday to be hit with huge EU fine for freezing out rivals of its Android mobile phone system in a ruling that could spark new tensions between Brussels and Washington.

EU set to fine Google billions over Android: sources

July 17, 2018

The EU is set to fine US internet giant Google several billion euros this week for freezing out rivals of its Android mobile phone system, sources said, in a ruling that risks fresh tensions with Washington.

0 comments

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.