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Mayer gets $70 mn to lead Yahoo

Reuters  New York, July 20, 2012
First Published: 11:36 IST(20/7/2012) | Last Updated: 02:25 IST(21/7/2012)

New Yahoo chief executive Marissa Mayer's compensation package could total more than $70 million in salary, bonuses, restricted stock and stock options over five years, according to a regulatory filing by the company on Thursday.

Mayer's pay package is made up of $1 million in annual salary, as much as $2 million in an annual bonus, and $42 million in stock options and other awards, as well as $14 million in "make whole restricted options" for forfeiture of compensation from Google.

Also, by including some stock grants, Mayer could earn up to a total of $20 million a year, or up to $100 million over five years, a Yahoo spokeswoman said.

As the first female Google engineer, Mayer's net worth is already estimated at $300 million.

Industry observers believe Mayer's selection over acting CEO Ross Levinsohn is a signal that Yahoo is likely to renew its focus on Web technology and other products.

Her appointment caps a tumultuous year at Yahoo.

In May, Scott Thompson resigned as CEO after less than 6 months in the job after a controversy over his academic credentials.

Thompson replaced the controversial Carol Bartz, who was fired in September after failing to revitalise Yahoo.

Thompson's total compensation at hire was valued at $27 million. He was able to keep the $7 million in compensation he got for leaving Paypal. Bartz got more than $10 million in severance when she was fired last year.

Mayer started as CEO on Tuesday, the same day Yahoo announced weak financial results, with flat net revenue and a slight decline in second-quarter profit.

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