Oracle CEO Safra Catz Exits Disney’s Board of Directors
The Walt Disney Co.’s board of directors is losing a longtime member.
Safra Catz, the CEO of tech giant Oracle, is resigning from her board seat, the company says. An SEC filing said that Catz informed the board of her decision Thursday. With Catz’s exit, Disney’s board will shrink from 12 to 11 members.
A source says that Catz’s departure was partly to avoid a potential conflict of interest, with Oracle chairman Larry Ellison helping to finance a takeover of Disney competitor Paramount Global. That deal, assuming it closes, would see Ellison’s son, David Ellison, run Paramount. The Oracle chairman has committed $6 billion to the deal.
Catz’s departure also comes after Disney’s board has faced pressure from activist shareholders, including from Nelson Peltz, in a failed proxy fight earlier this year. While Catz was not the target of Peltz’s fight, he had criticized Disney...
Safra Catz, the CEO of tech giant Oracle, is resigning from her board seat, the company says. An SEC filing said that Catz informed the board of her decision Thursday. With Catz’s exit, Disney’s board will shrink from 12 to 11 members.
A source says that Catz’s departure was partly to avoid a potential conflict of interest, with Oracle chairman Larry Ellison helping to finance a takeover of Disney competitor Paramount Global. That deal, assuming it closes, would see Ellison’s son, David Ellison, run Paramount. The Oracle chairman has committed $6 billion to the deal.
Catz’s departure also comes after Disney’s board has faced pressure from activist shareholders, including from Nelson Peltz, in a failed proxy fight earlier this year. While Catz was not the target of Peltz’s fight, he had criticized Disney...
- 7/19/2024
- by Alex Weprin
- The Hollywood Reporter - Movie News
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