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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.

5 of 102 comments (clear)

  1. Nice by Dunbal · · Score: 3, Insightful

    $23 million for hammering the nails in the coffin. Cushy job.

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    Seven puppies were harmed during the making of this post.
    1. Re:Nice by Fire_Wraith · · Score: 4, Insightful

      Only at the CEO level is failure so richly showered in money.

    2. Re:Nice by lgw · · Score: 3, Insightful

      Simple math problem for you: if a company has $10 B in earnings, how much is a CEO worth if he improves that by 1%?

      Another way of looking at it: don't be that guy who says "I don't understand what he does, so it must be easy". If you've ever worked for a bad CEO, you know just how quickly one can destroy any company, no matter how good everyone else is. A CEO who simply "won't ruin a good thing" can be worth a Hell of a lot to a large corporation. A CEO who could actually save a failing corporation? Quite valuable.

      --
      Socialism: a lie told by totalitarians and believed by fools.
  2. Re:Worth it by pseudofrog · · Score: 3, Insightful

    You're seriously trying to discredit her based on five years of problems occurring before she took over?

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

    It's not genius, but you can't argue with results.

    Yes, you can.

    Results can certainly be the results of other factors. A CEO shouldn't be judged in a bubble devoid of context.

    The existing economy, the success of competitors, prior conditions, prior success of the company, etc. There could be a thousand different reasons not related to the CEO's performance that could affect the results of his/her company under his/her watch.

    And if you want to give Marissa Mayer the benefit of the doubt, give it to her because the company she inherited wasn't doing that well in the first place (except for its Alibaba and Yahoo Japan stock).