Advertisement

HindustanTimes Wed,22 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. http://www.hindustantimes.com/Images/Popup/2012/7/21_07_12-buss25c.jpg

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.


Advertisement
more from Business

Digging deep: Foreign firms may get to mine coal in India

Foreign companies with units or joint ventures in India may eventually be allowed commercial coal mining in India and dig deep into the mines that that are estimated to contain the world’s fifth largest coal reserves.

markets
Advertisement
Most Popular
Advertisement
Advertisement
Copyright © 2014 HT Media Limited. All Rights Reserved