Oracle Chairman Larry Ellison Resigns from Apple Computer Board

"Larry has served Apple shareholders well as a director during the past five years," said Steve Jobs, Apple's CEO, said iearly Friday. "We're looking forward to benefiting from his counsel on an informal basis going forward.'

Ellison said he would continue to offer advice to Apple management, "But my schedule does not currently allow me to attend enough of the formal board meetings to warrant a role as a director."

The announcement comes days after Oracle, a leading business software maker, reported a 33 percent drop in fiscal first quarter profits and said its fortunes continued to sag as corporate America's technology malaise spread into Europe and Asia.

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