Oracle CEO Safra Catz exits Disney’s board of directors
Oracle Corp. Chief Executive Safra Catz will leave her position on the Walt Disney Co. board of directors Friday, the Burbank media and entertainment giant said.
Catz served as a member of the board for six years. After her departure, the board will have 11 directors instead of 12.
Disney Chief Executive Bob Iger described Catz’s contributions as “tremendous,” saying in a statement that she helped shape the company’s “long-term strategic planning amid a rapidly changing technological landscape that affects our businesses.”
“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 said in a statement.
Catz has served as CEO of software stalwart Oracle since 2014.
The move comes as Oracle co-founder and chairman of the board Larry Ellison has become more involved in the entertainment industry. His son, David Ellison, recently reached a deal to buy the Redstone family holding company National Amusements Inc., giving his Skydance Media control over Disney competitor Paramount Global. Larry Ellison is said to have contributed significant financing to the deal.
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