Tuesday, July 03, 2007

NetSuite Stake May Prove Tricky for Ellison - WSJ.com

 An interesting juggling act for Larry Ellison

Mr. Ellison's personal wealth is well-documented. As of April, he held more than 20% of Oracle's shares, a stake valued at more $24 billion. Mr. Ellison owns about 74% of NetSuite's common stock -- with a 61.1% stake of his own and 6.5% stakes apiece in trusts for his children, David and Margaret, according to the filing. NetSuite didn't estimate the number of shares it will sell or the price expected in the offering, to be conducted through an auction.

[...]

His holdings could pose tricky corporate-governance issues. As chief executive and a director of Oracle, Mr. Ellison is a major decision maker there. At NetSuite, he wields control over most matters requiring shareholder approval -- including the election of directors, executive compensation plans and approval of significant transactions.

NetSuite Stake May Prove Tricky for Ellison - WSJ.com

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