Published On: Mon, Mar 13th, 2017

Marissa Mayer to Get $23 Million “Golden Parachute” After Verizon Deal Closes

Back in 2012, employees during Yahoo were so carefree that Marisa Mayer will be means to move a association behind to aptitude that they famously done posters of her in a character of Obama’s 2008 presidential debate “Hope”.

“My goals are simple: to govern faster, sinecure tip talent, and make Yahoo a comprehensive best place to work,” she had pronounced as a new CEO. “The destiny of Yahoo is unusually bright.”

Fast brazen to 2016 and a association was sole to Verizon after years of descending revenue. The telecom hulk had concluded to compensate $4.5 billion for a company’s core business, slicing about $350 million from a strange merger value given Yahoo unsuccessful to surprise Verizon about any of a confidence breaches that it had suffered in a past dual years.

The cost of disaster isn’t that bad during Yahoo

The association has now pronounced that Marissa Mayer will not be a CEO of pieces of Yahoo that aren’t being sole to Verizon. However, like many unsuccessful CEOs before her, Mayer will still accept a large separation package.

In a regulatory filing posted Monday, Yahoo pronounced that Mayer will accept “golden parachute compensation” totaling over $23 million, including $3 million in cash, $20 million in equity, and $25,000 in stability medical benefits. Earlier in March, it was announced that she also had to abandon her money reward for 2016 and any intensity stock-based reward for 2017 – again, given of a information breaches that a association suffered underneath her control.

Mayer has reportedly warranted over $150 million given fasten Yahoo in 2012.

She has never shown any goal of remaining with Altaba, and Yahoo had already announced that Mayer would also step down as a house executive once a merger is completed. But, she will be compulsory to stay as a CEO until a transition is completed.

When announcing a understanding in Jul 2016, Mayer had pronounced that she skeleton to stay with a company. “For me personally, I’m formulation to stay. we adore Yahoo, and we trust in all of you. It’s critical to me to see Yahoo into a subsequent chapter.”

However, a lot altered in a subsequent few months that might have altered her mind. For now, Business Insider reported that it’s misleading either she will sojourn with a new hunt and news business that Verizon is acquiring.

Following her, Yahoo’s leftover pieces – named Altaba – will be led by Thomas McInerney, former CFO of IAC. McInerney will reportedly make twice that of a stream CEO, with $2 million in annual bottom salary.

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