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Marissa Mayer Will Make $186 Million on Yahoo's Sale To Verizon (cnbc.com)
Vindu Goel, reporting for the NYTimes: Yahoo shareholders will vote June 8 on whether to sell the company's internet businesses to Verizon Communications for $4.48 billion. A yes vote, which is widely expected, would end Marissa Mayer's largely unsuccessful five-year effort to restore the internet pioneer to greatness. But Ms. Mayer, the company's chief executive, will be well compensated for her failure. Her Yahoo stock, stock options and restricted stock units are worth a total of $186 million, based on Monday's stock price of $48.15, according to data filed on Monday in the documents sent to shareholders about the Verizon deal. That compensation, which will be fully vested at the time of the shareholder vote, does not include her salary and bonuses over the past five years, or the value of other stock that Ms. Mayer has already sold. All told, her time at Yahoo will have netted her well over $200 million, according to calculations based on company filings.
Nothing like being a part of the ruling class.
I just hope that with $185M in the bank she decides to retire. Either that or takes over as Chairwoman of Oracle
Build a Man a Fire, and He'll Be Warm for a Day. Set a Man on Fire, and He'll Be Warm for the Rest of His Life.
you get an @aol.com address. I bet you can't wait to put that one on your resume....
Wheel of Time: Book by Book and Sumview (summary review) Bigdady92 style: http://bigdady92.blogspot.com/
Did she really ruin it, though? She took command of the Titanic about 100 meters from the iceberg. Or possibly after it had already hit. Could anybody have done much better?
She certainly didn't screw up as badly as Stephen Elop or Carly Fiorina.
Why was such an incompetent person made a manager?
Was the Yahoo Board of Directors Bored of Directing?
Judging by her personal outcome in this situation, she appears to me to be extremely talented and competent individual.
Point of Order: It's *not* a reward for failure. It's a consolation prize for not winning the bigger reward and accepting very high probability of a publicly-destroyed career, lots of humiliation and public hate. The payment is to entice someone that already has rising pay and career prospects to knowingly take on "mission impossible" like beating Google with the full knowledge it will likely destroy their career and reputation.
The many posts I've seen here validate that the risk to reputation was indeed, a real one.
Marissa was a disaster, but frankly, so was the project she took on. I'm sure that many people besides me thought they could have done better against Google, but those are untested, ego-inflating opinions of little value.
The implication of this article is that Mayer made out like a bandit while doing a bad job. But the numbers say that she didn't do a bad job. That surprised me, because my perception was the opposite, but the last time this came up, I did the numbers here.
Under Mayer's tenure, Yahoo! generated a 21% annual growth rate in market value, beating Apple, Microsoft, IBM and Oracle, as well as the NASDAQ, S&P 500 and Dow Jones. I should point out that those companies also pay dividends, but they're all in the 1-2% range, so the dividend payouts don't change the results.
Now, you can argue that some other CEO would have done better, or that the main reason for Yahoo!'s success under her tenure was the decision to invest in Alibaba, made by her predecessor, but speculation about what someone else might have done is unproductive, and she decided to stay with that investment. The bottom line is that CEOs are supposed to generate value for shareholders, and market-beating value was generated, from a company that was clearly moribund before she was hired.
You can also argue about whether any CEO is worth the millions they get, but if you judge against other CEOs she earned her money.
To be fair, Stephen Elop has a track record of driving a business into the ground so MS can buy it and finish digging the hole. He's more of a hired goon in the embrace->extend->extinguish chain than an actual CEO.