Oracle, the world’s second-largest software makers, cut CEO Larry Ellison’s base salary for 2010 from $1 million to $1, reports Bloomberg. Based on his 2009 pay package, Ellison was the third best-paid CEO of a U.S. public company, valued at $69.2 million by Graef Crystal. Aubrey McClendon of Chesapeake Energy and Motorola’s Sanjay Jha round off the top two. “Ellison plays an active and vital role in our operations, strategy and growth,” Oracle said today. “Nevertheless, during fiscal 2010, Ellison agreed to decrease his annual salary to $1.” Ellison’s pay package in 2008 drew criticism after it was valued at $72 million.
Oracle CEO Ellison’s $1 Salary
Oracle CEO Larry Ellison has agreed to accept a $1 salary for 2010.
August 24, 2009