Apple announced on Friday that Oracle Corp. chairman and CEO Larry Ellison is resigning from Apple’s Board of Directors.
Ellison said that he will continue to offer his advice to Apple CEO Steve Jobs and the company’s executive management team, but said that his schedule doesn’t allow him to attend enough of Apple’s board meetings to warrant a role as director.
Ellison first obtained a position on Apple’s Board of Directors in 1997. Steve Jobs announced Ellison’s appointment along with Intuit CEO Bill Campbell and Jerry York, former CFO of IBM and Chrysler.
Ellison’s work at Apple drew praise from Steve Jobs. “Larry has served Apple shareholders well as a director during the past five years. We’re looking forward to benefiting from his counsel on an informal basis going forward,” he said.