September 13, 2016
CEO Marissa Mayer is looking at a $44-million payout for leaving Yahoo after Verizon’s multi-billion-dollar purchase of the company is complete.
Mayer’s payout constitutes almost half of the $89.2 million that is to be doled out to Yahoo’s top executives if their jobs are cut after the acquisition of Yahoo’s Internet business for $4.83 billion in cash is complete.
Mayer’s send off includes $41 million in stock grants and $3 million in cold, hard cash, according to a Yahoo filing with the Securities and Exchange Commission. The $3 million is made up of a $2 million bonus and a $1 million base salary.
Yahoo chief revenue officer Lisa Utzschneider is to receive $20.5 million in severance, which includes $19.2 million in stock and $1.2 million in cash.
Next in line is Yahoo’s general counsel Ronald Bell whose golden parachute comes in at $12.4 million: $11.1 million in stock and $1.2 million in cash.
Chief Financial Officer Ken Goldman is to receive $12.2 million, $11 million of which is stock and $1.2 million in cash.
Co-founder David Filo’s payday is considerably smaller than those to be received by the others: $65,000. Filo, who also has the rather dubious title of ‘Chief Yahoo,’ will be able to supplement his tiny payout with the sale of his shares, of which he has a massive amount.
Once the deal closes, likely in the first quarter of 2017, Yahoo will be integrated with AOL under Marni Walden, EVP and president of the product innovation and new businesses organization at Verizon.
Once the Yahoo acquisition becomes official, Verizon will boast one of the largest portfolios of owned and partnered global brands. AOL and Yahoo together will have more than 25 popular brands in its portfolio. Yahoo’s key assets include its finance, news and sports content as well as its popular e-mail service, serving roughly 225 million monthly active users.
Jennifer Cowan is the Managing Editor for SiteProNews.