Yahoo announced that CEO Marissa Mayer will enjoy a $23 million golden parachute after the sale of its core assets to Verizon. This payday does not include nearly 2.9 million stock options valued at $56.8 million. I have been following Mayer’s performance since she was appointed CEO in 2012, and she has not performed on any level. Since she took the helm, Mayer failed to deliver cost savings and stem declines in advertising revenue, and Yahoo’s influence in the internet industry continued to wane. Beyond the Company’s poor performance, on her watch there were recent disclosures that Yahoo suffered two massive security breaches, one in 2014 that hit more than 500 million accounts and another from 2013 that affected more than one billion accounts. I find the news of Mayer’s payday egregious, and another example of how a company’s Board of Directors is asleep at the switch when a CEO fails to perform.
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