Yahoo may be in full talks with Verizon over a buyout of its main business, but the company will still hold its executives in high esteem. Moreover, the new male CEO of the tech giant is going to receive double the salary of Marissa Mayer. Even though the price tag that Verizon will pay might get severely impaired by massive e-mail hacks, the board is not seeing executives’ salary as a source of cost reductions.
Marissa Mayer’s Net Worth Amounts to $189 Million
On Monday, the American multinational tech company announced a major change at the level of its leadership. As soon as the Verizon deal reaches its final stage, Marissa Ann Mayer is going to step down from her position as the CEO of the company. She has served the company from this position for five years now.
Even though back days Yahoo was worth a total of $100 billion, the company is in negotiations with Verizon for a total of $4.8 billion. If the agreement successfully concludes, Verizon will become the owner of the main Yahoo tech and advertising business. The company is going to preserve leftovers. These are a series of Alibaba stocks, stake in Yahoo Japan, and other secondary investments.
Mayer is going to receive a severance package valued at $23 million. Moreover, she still owns Yahoo stock that is approximately valued at a total of $97 million. She can choose to sell this as soon as she leaves the company. Additionally, Mayer was awarded $69 million worth of stock options. Thus, the total net worth of the former CEO will rise to $189 million.
The New Male CEO Is Thomas McInerney
Thomas McInerney is the former chief executive of IAC and the director of Genworth Financial since January 2013. At the same time, he was also a board member of Yahoo. Even though he will take up the reins of a much weaker empire after the Verizon deal, McInerney is going to receive a bigger salary than that of Marissa Mayer. While the former CEO received a total of $1 million as base salary, the new leader will be entitled to $2 million.
Moreover, there are other financial benefits in store for the new CEO of Yahoo. If Thomas McInerney reaches his sales target, he will receive a bonus of $2 million. That would be 25% more than Mayer received this year for a salary and cash bonus. In addition, McInerney can access up to $24 million in annual stock awards. If he unlocks the maximum of benefits this year, he is going to receive twice as much as Mayer’s grant in 2015. This was the last year she earned the maximum benefits herself.
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