Oracle Reduces Ellison’s Pay to $41.5 Million, Co-CEOs Cut

Co-founder’s compensation declines 35% from last fiscal year
Software maker had faced investor opposition to pay practices

Larry Ellison.
Photographer: Kiyoshi Ota/Bloomberg

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By Caleb Melby and Alicia Ritcey

September 23, 2016 at 9:07 PM UTC

Updated on

September 23, 2016 at 9:52 PM UTC

This article is for subscribers only.

Oracle Corp., which has faced shareholder opposition to its compensation practices, cut pay for its top executives in 2016.

Co-founder and chairman Larry Ellison received $41.5 million, a 35 percent decrease from last year. Co-Chief Executive Officers Safra Catz and Mark Hurd each received about $41 million, a 23 percent decline. The drop for the co-CEOs is accentuated by one-time stock awards valued at $9 million that they received when they were promoted at the end of 2014.