The Walt Disney Company has announced that the CEO of Oracle, Safra Catz, will be leaving the company’s board of directors after having served for six years.

Oracle CEO Leaves Disney’s Board

No explanation has been provided by Disney or Catz as to why the CEO is stepping down. This reduces Disney’s board of directors from 12 to 11.

CEO of the Walt Disney Company, Bob Iger, said in a statement, “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. Her contributions have been tremendous, and on behalf of the Walt Disney Company, I want to personally thank Safra for her years of service.”

Catz followed up this statement with her own comment, “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. 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.”

The Oracle Corporation is the world’s third largest software company by revenue and market capitalization, with Catz being the highest paid female CEO of a company in the United States. She started her time on the board of directors at the Walt Disney Company in February 2018.

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