Oracle Corporation has announced that Edward Screven, the company's Chief Corporate Architect, plans to retire in February 2025. Screven, who has been with Oracle for 38 years, submitted his resignation and will complete the transition in the coming weeks. His departure marks the exit of another key figure from Oracle.
As the Chief Corporate Architect and Executive Vice President, Screven has been instrumental in shaping Oracle's technology and architecture decisions. He led significant strategic projects, including industry standards and security enhancements. Screven also oversaw Oracle Labs, which focuses on researching and transforming disruptive technologies. His contributions to open-source projects such as Java, Oracle Linux, MySQL, and VirtualBox have been significant.
According to Oracle's proxy statement, Screven holds approximately 3.4 million shares of Oracle stock (ORCL, Financial), making him the fourth-largest individual shareholder. Based on current stock prices, these shares are valued at over $1 billion. Over the past year, Oracle's stock price has risen by about 44%, a performance closely linked to the technology and product strategies led by Screven.
In 2024, Screven's total compensation was just under $21 million, including a base salary of $900,000 and stock awards worth approximately $17.4 million. Despite announcing his retirement, Screven will remain involved with Oracle-related business. He will continue to represent Oracle on the board of Ampere Computing Holdings, a key strategic partner whose chip technology supports Oracle's cloud services.
