Oracle GC Defends Her CEO’s Pay

In a letter to a shareholder investment firm, the general counsel of Oracle Corporation defended the compensation package of the company’s founder and CEO, Larry Ellison. The firm, CtW Investment, advises several union pension funds and is asking shareholders to vote against three members of the compensation committee, as well as the company’s executive pay packages, and specifically that of Ellison, who received $78.4 million for fiscal 2013. In a letter to CtW, Oracle general counsel Dorian Daley said the company is urging “those you claim to represent to support our recommendations at the upcoming shareholder meeting.”