Oracle Faces Demands From Pension Funds for Better Governance
This article is for subscribers only.
Two pension funds that own Oracle Corp. stock said the company’s board should let shareholders nominate their own candidates for directors, change the compensation of executives, and make it easier to talk with the software maker.
In a letter to Oracle’s board on Sunday, the chief executive officers of Dutch pension-fund manager PGGM N.V and the U.K.’s Railways Pension Trustee Company Ltd. requested a meeting with the software company’s directors to discuss their concerns. The funds said they published the letter after four years of unsuccessful attempts by shareholders to talk with Oracle management about governance.