Oracle Defends CEO's Pay To Shareholders, Activists

Law360, New York (October 2, 2013, 5:33 PM EDT) -- Oracle Corp. on Wednesday struck back against CtW Investment Group’s public criticism of its executive compensation policies, saying CEO Larry Ellison’s pay package is not only appropriate but necessary, given Ellison’s strategic role within the company.

In a strongly worded letter written to CtW’s executive director and simultaneously filed with the SEC, Oracle chided the shareholder activism advocacy group for misrepresenting facts about Ellison’s compensation, which he said was entirely reasonable given Ellison’s role as Oracle’s “most critical strategic visionary.”

CtW Director Dieter Waizenegger wrote a letter...
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