Yahoo! Inc. (YHOO) CEO Marissa Mayer and Her $23 Million Golden Parachute

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Yahoo! Inc. (NASDAQ:YHOO) CEO Marissa Mayer will receive a hefty package following her decision to step down from the company.

Yahoo! Inc. (YHOO) CEO Marissa Mayer and Her $23 Million Golden ParachuteMayer’s five-year tenure will be considered a failure by most due to the revelation that the company’s personal information of more than 1 billion of its users was breached due to Yahoo’s weak online security measures. However, she will be leaving with a $23 million golden parachute.

She will receive $3 million in cash, $24,000 in benefits, and $19,971,367 in equity. The golden parachute would’ve netted her $53 million if she had been fired, but both parties ultimately decided to allow her to step down and receive the compensation if she doesn’t work for Verizon Communications Inc. (NYSE:VZ).

The carrier recently completed its acquisition of Yahoo, which is a deal that was announced last July for $4.83 billion. However, Verizon asked for a $925 million discount due to the former company’s security failings.

The two parties ultimately reached an agreement to offer Verizon a $350 million concession. Mayer’s departure from the company is not much of a surprise as it was revealed back in January that she would be leaving Yahoo and would have no part of its merger with Verizon.

The new version of Yahoo will be known under a different name at Altaba.

YHOO stock grew 1.4% Monday, while VZ shares gained 0.1%.


Article printed from InvestorPlace Media, https://investorplace.com/2017/03/yahoo-inc-yhoo-marissa-mayer/.

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