CALIFORNIA
—
Marissa Mayer
New Yahoo Chief Executive compensation package could
total more than $70 million in salary, bonuses, restricted stock and
stock options over five years, according to a regulatory filing made by
the company. 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 Inc.
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 and one of its
earliest employees, Mayer's net worth is already estimated to be as much
as $300 million. Yahoo's hiring of Mayer as CEO from Google earlier
this week caught analysts and investors by surprise. Mayer, 37, edged
out presumed front runner and acting CEO Ross Levinsohn to become
Yahoo's third CEO in a year.
Industry observers believe Mayer's selection over Levinsohn is a signal
that Yahoo is likely to renew its focus on Web technology and products
rather than beefing up online content.
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 got
no severance but 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.
A self-described "geek" with a master's degree in computer science from
Stanford, 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.
Although she was on the company's sprawling Sunnyvale, California,
campus, she did not participate in its earnings call. Levinsohn was also
absent from the call, which was led by Yahoo's Chief Financial Officer
Tim Morse.
Mayer joins Yahoo as something of a celebrity, having already
established herself as one of Silicon Valley's leading women, both
inside and outside of the office. She is known for her love of fashion
and regularly appears on the society pages for hosting parties. In 2009
she married real estate investor Zachary Bogue — Mayer tweeted that the
couple expects their first child, a boy, in October. — Reuters
-Disclaimer Contents are from Reuters other Site already a copy of it..
