subject: Oracle CEO Ellison's Pay Drops 17% To $70.1M In Fiscal 2010 [print this page] Oracle Corp.'s (ORCL) founder and asics tiger sneaker Chief Executive Larry Ellison earned $70.1 million in total for the fiscal year ended May 31, down 17% from a year earlier, according to the software maker's Securities and Exchange Commission filing on Tuesday.
Ellison, who founded Oracle in 1977, earned a smaller salary during the year, while option awards also fell, although his non-equity incentive plan compensation grew. During the fiscal year, Ellison agreed to decrease his annual salary to $1. That figure dropped sharply, to $250,001 from $1 million a year earlier.
According to a Wall Street Journal analysis of CEO pay, Ellison topped the list of best-paid executives of public companies during the past decade, receiving $1.84 billion in compensation. Oracle shareholders saw the value ASICS Onitsuka Tiger TFT368 of their stock triple during the period.
The salaries of co-presidents Safra Catz and Charles Phillips and Chief Financial Officer Jeff Epstein also fell, according to Oracle. Catz's total salary slid 14%, to $36.4 million, while Phillips' fell 13%, to $30.1 million. Epstein's declined 37%, to $4.9 million.
Oracle announced Monday night that Mark Hurd would join the company as co-president and also sit on its board of directors. He replaces Phillips, who is leaving the company, and will serve along with Catz, who has overseen Oracle's finances and operations. Phillips oversaw sales and marketing.
The move by Hurd--who resigned from Hewlett-Packard Co. (HPQ) last month amid a scandal involving a marketing consultant--is expected to heighten the rivalry between the two Silicon Valley giants. In Oracle's SEC filing Asics Onitsuka Tiger Olympos on Tuesday, the company said Hurd's hardware experience is "particularly important to us given our recent acquisition of Sun Microsystems Inc."
Oracle's shares were up a penny to $24.28 in after-hours trading.
Oracle CEO Ellison's Pay Drops 17% To $70.1M In Fiscal 2010
