Oracle CEO Safra Catz Exits Disney’s Board of Directors

The Walt Disney Co.’s board of directors is actually shedding a veteran participant.

Safra Catz, the CEO of specialist titan Oracle, is actually surrendering coming from her board chair, the firm claims. An SEC declaring stated that Catz educated the board of her selection Thursday. Along With Catz’s leave, Disney’s board will certainly balk 12 to 11 participants.

Catz’s parting follows Disney’s board has actually dealt with tension coming from protestor investors, consisting of coming from Nelson Peltz in a stopped working substitute match previously this year. While Catz was actually certainly not the intended of Peltz’s match, he had actually slammed Disney’s board for the long-term of its own board participants, and also the visibility of Chief Executive Officers like Catz and also GM CEO Mary Barra, that he disputed possess more vital time work.

Disney in 2014 found to assume some of those issues through calling 2 brand-new board participants: Previous Morgan Stanley CEO James Gorman, and also previous Skies CEO Jeremy Darroch.

“Throughout her tenure on Disney’s Board of Directors, Safra has provided invaluable insight that has helped shape the company’s long-term strategic planning amid a rapidly changing technological landscape that affects our businesses,” stated Dianey CEO Bob Iger in a claim. “Her contributions have been tremendous, and on behalf of The Walt Disney Company, I want to personally thank Safra for her years of service.”

“I’ve been honored to serve on Disney’s Board, and I am especially proud of the work we’ve done to fortify the company’s unparalleled strengths and continue its rich legacy of innovation,” Catz included. “As I leave the Board today, I am grateful to have had the opportunity to work with Bob and his talented leadership team, and the accomplished members of the Disney Board. I wish the company and its employees every success in the future.”