Feeds

Oracle shareholders enhance Ellison's package

Room for more

Remote control for virtualized desktops

Larry Ellison has not only survived a plan that could have put Oracle shareholders in charge of his annual compensation, he's in line for a bigger payout.

Oracle's chief executive stands to receive a total bonus of $13.62m in fiscal 2009, a 25 per cent increase over last year's maximum rewards package of $10.89m.

The increased bonus packaged was ratified by Oracle's shareholders attending their annual general meeting (AGM) last Friday. The package was put forward by Oracle's compensation committee in August, with the committee specifying nine Oracle executives in addition to Ellison who'd also get paid under its plan.

The 2009 rewards are based on "certain performance criteria" determined by the company's compensation committed. These include improvements in Oracle's pre-tax profit on a non-GAAP basis and "revenue-related goals linked to a particular area of responsibility."

Ellison is already one of the tech sector's best-remunerated chief executives and America's third-richest individual, thanks to steadily growing pay and stock allocations.

His fiscal 2008 cash and stock package weighed in at $83m, 372 per cent above what Ellison's peers in other chief executive positions receive, according to consultant Proxy Governance Inc.

The 2009 award followed the defeat of a proposal by shareholder Marianists Province of the United States to give fellow shareholders a "say on pay." This would have let shareholders set the packages Ellison and other senior Oracle executives would have received, bypassing Oracle's compensation committee. ®

Top 5 reasons to deploy VMware with Tegile

More from The Register

next story
BIG FAT Lies: Porky Pies about obesity
What really shortens lives? Reading this sort of crap in the papers
Assange™ slumps back on Ecuador's sofa after detention appeal binned
Swedish court rules there's 'great risk' WikiLeaker will dodge prosecution
You think the CLOUD's insecure? It's BETTER than UK.GOV's DATA CENTRES
We don't even know where some of them ARE – Maude
prev story

Whitepapers

Why and how to choose the right cloud vendor
The benefits of cloud-based storage in your processes. Eliminate onsite, disk-based backup and archiving in favor of cloud-based data protection.
A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.
Go beyond APM with real-time IT operations analytics
How IT operations teams can harness the wealth of wire data already flowing through their environment for real-time operational intelligence.
How to determine if cloud backup is right for your servers
Two key factors, technical feasibility and TCO economics, that backup and IT operations managers should consider when assessing cloud backup.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?