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Oracle Investors Reject CEO Ellison’s Pay at Annual Meeting

Oracle Corp. shareholders rejected the pay packages of Chief Executive Officer Larry Ellison and other executives, hewing to the recommendation by a proxy adviser that said their compensation is out of sync with the company’s performance.

At Oracle’s annual meeting today in Redwood City, California, the company said shareholders also voted to re-elect all of its directors, contrary to the guidance of Institutional Shareholder Services. ISS had said votes should be withheld from Chairman Jeff Henley and seven independent board members, including Bruce Chizen, George Conrades and Naomi Seligman of the compensation committee.