HindustanTimes Wed,01 Oct 2014

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.

more from Business

Rajan holds interest rates, EMIs unlikely to dip soon

The Reserve Bank of India (RBI) kept rates on hold on Tuesday despite pressure from industry and government hopes that the central bank would lower borrowing costs to aid an incipient economic recovery.
Most Popular
Copyright © 2014 HT Media Limited. All Rights Reserved