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Yahoo's Marissa Mayer In Line For $55M Severance If Fired Within A Year Of Sale (nytimes.com)
whoever57 writes: A Securities and Exchange Commission (SEC) filing on Friday revealed that Yahoo's board has agreed to a $55 million severance package for Marissa Mayer if she loses her job within a year of a sale. That's a lot of money for a chief executive who hasn't been able to keep Yahoo's stock from falling. In 2015, the value of Yahoo's stock fell by 33%. Worth noting: most of the money from the severance package is composed of restricted stock units and options -- there's only $3 million in cold hard cash. Also, Yahoo revealed Mayer received a significant pay cut last year. Her "reported pay" was $36 million, but her "realized pay" is closer to $14 million.
That's a lot of money, full stop. Nothing else needed to be said after that. Where can I get a job like that? I mean since the price of labor is going down and all... This is PROOF that ability and hard work has exactly jack shit to do with compensation or the Majick Fairytale Free Market.
C|N>K
That would be adequate for all the damage she did. But CEOs these days cannot fail anymore, no matter how stupid and destructive. They just get a few ten millions less in compensation, but still get indecently rich.
Most ACs are not even worth the keystrokes to insult them. Be generically insulted by this and ignored otherwise.
Maybe golden parachutes should be based on performance (long-term, over the course of employment).
They shouldn't automatically get millions just for taking on a risky job.
This. The guys sitting on the non-exec boards or renumeration boards are mostly from the same pool of people who are directors themselves in other companies. One hand washes the other... They're basically stealing from the shareholders, who mostly don't mind because the large institutional investors like pension funds are run by the same guys.
If construction was anything like programming, an incorrectly fitted lock would bring down the entire building...
The Yahoo Board that rejected Microsoft's $43 billion takeover offer are the parties who committed breach of fiduciary duty. Everything that came after that has been a desperate attempt to stack sandbags in front of a tsunami.
sPh
Make her earn her pay cleaning toilets. Eliminate her personal daycare and require her to report 7am every day.
She'll quit the next day.
Q.E.D.
Used to be only failed male CEOs could run for governor or president.