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Yahoo's Marissa Mayer Could Get $23M Exit Payment, Ex-IAC Executive Will Become CEO (hollywoodreporter.com)

Posted by msmash on from the moving-forward dept.

Yahoo has named a replacement for CEO Marissa Mayer once the merger with Verizon becomes official. The next leader of the Sunnyvale-based tech giant will be Thomas J. McInerney, a former chief financial officer of IAC. From a report: Yahoo said Monday that after it completes the sale of its core search business to Verizon and Marissa Mayer and co-founder David Filo step down as board members of Altaba (the new name for the remaining holdings), Mayer could get a $23 million "golden parachute" payment, and Thomas McInerney will run the remaining part of the business as CEO. Mayer's golden parachute, a large payment for top executives if they lose their position as a result of a deal, would include $19.97 million in equity and more than $3 million in cash, according to a regulatory filing. It would kick in if there is a change in control, as will be the case in the deal, and she is terminated "without cause" or "leaves for good reason" within a year.

6 of 102 comments (clear)

  1. Worth it by kamapuaa · · Score: 5, Informative

    Under her, Yahoo nearly tripled in value, from about $16 billion to $44 billion. She won't win a prize for innovation, but financially she played it smart with Yahoo and made her investors a lot of money, and it makes sense that she would get paid handsomely for the job.

    --
    Slashdot: providing anti-social weirdos a soapbox, since 1997.
    1. Re:Worth it by junner518 · · Score: 2, Informative

      What? The company lost 95% of value in the last ten years, five of those under Mayer.

    2. Re:Worth it by McGruber · · Score: 4, Informative

      Under her, Yahoo nearly tripled in value, from about $16 billion to $44 billion.

      Wow, I didn't believe that, but I checked YHOO's stock price and kamapuaa is correct. When Mayer became CEO in July 2012, YHOO was trading under $16/share. As I'm posting this, YHOO is trading at $46.5/share. .

    3. Re:Worth it by stephanruby · · Score: 4, Informative

      I think the parent was going for "funny" karma, but that plan backfired and he got an "insightful" instead.

      Both 15% share of Alibaba and 35% of Yahoo Japan are now worth a total of 41 billion dollars, and Marissa Mayer had nothing to do with either of those decisions (which both predate her).

    4. Re:Worth it by Zontar_Thing_From_Ve · · Score: 4, Informative

      What? The company lost 95% of value in the last ten years, five of those under Mayer.

      That's absolutely not true and it's easy to prove. You can go to a place like Yahoo Finance (no joke intended - their website is free and easy to navigate) and look up a 10 year run of the stock. On March 13, 2007 Yahoo was worth $29.56 a share at close. It's currently worth about $46.57 a share as I write this on March 13, 2007. That's a gain, not a loss. Maybe something like profits or income went down 95%, as you state, over the values 10 years ago, but that is not reflected in the stock price or the company's market valuation, which is more important (for now) than the money it actually pulls in. Yahoo is valued at almost $45 billion. That's a lot of money. Even if basically she ran the true Yahoo business into the ground and got lucky with Alibaba and the fact that Yahoo Japan is not messed up and has real value, the US stock market has not punished her for this, so to a certain extent you can argue that she did her job.

  2. She didn't or hasn't done well in my opinion by bogaboga · · Score: 2, Informative

    Of course some will label my opinion as "women in technology bashing."

    Ever since she took over, Yahoo has been trending downhill!

    I wish her the very best. So much for people of her ilk!