Oracle Investors Say No to Executive Pay for Sixth Straight Year
- Proposal fails even as founder Ellison owns about 28% of stock
- Board members Chizen, Boskin are re-elected at annual meeting
The Oracle campus in Redwood City, California.
Photographer: Michael Short/Bloomberg
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Oracle Corp. shareholders rejected the software maker’s executive compensation plan for a sixth straight year after it awarded the top three bosses pay packages worth more than $100 million each in fiscal 2018.
A majority of shares voted opposed the program, according to preliminary results announced Wednesday at Oracle’s annual meeting in Redwood City, California. It’s the only S&P 500 company that hasn’t secured majority approval in a say-on-pay vote since 2011, even though founder and Chief Technology Officer Larry Ellison owns about 28 percent of the stock.