Safra Catz, CEO of Oracle, has stepped down from Disney’s board of directors after a six-year tenure. The departure, which reduces the board from 12 to 11 members, was confirmed in a recent SEC filing, with no explanation provided for her exit.
Catz’s resignation follows a tumultuous period for Disney’s board, highlighted by activist investor Nelson Peltz’s failed bid earlier this year to secure seats for himself and former Disney CFO Jay Rasulo. Peltz criticized the board for its handling of CEO succession planning. Despite this, all 12 incumbent directors were reelected at Disney’s annual shareholder meeting in April.
Disney CEO Bob Iger praised Catz’s contributions, stating, “Her insights have significantly shaped our long-term strategic planning amid a rapidly evolving technological landscape.” Catz expressed gratitude for her time on the board, acknowledging the company’s innovative legacy and wishing Disney continued success.
Catz has been Oracle’s CEO since 2014 and has held various roles within the company since joining in 1999. Besides her role at Disney, she has served as a director for HSBC Holdings.
In related news, David Ellison, son of Oracle founder Larry Ellison, recently merged his Skydance Media with Paramount Global, with substantial funding from the Ellison family and RedBird Capital Partners.
The remaining members of Disney’s board include prominent figures such as Iger, Nike’s Mark Parker, GM’s Mary Barra, and Coca-Cola’s Carolyn Everson.
