New Yahoo! chief gets plump pay package

Jul 20, 2012 by Glenn Chapman
Yahoo! chief Marissa Mayer, pictured in 2011, will be paid one million dollars a year and be eligible for many times that amount in stock and bonuses if she hangs on to the post, the company revealed on Thursday.

Yahoo! chief Marissa Mayer will be paid one million dollars a year and be eligible for many times that amount in stock and bonuses if she hangs on to the post, the company revealed on Thursday.

In the past year, Yahoo! has racked up five bosses, two of them interim chiefs who filled in after dismal ends to stints by and .

In addition to a $1 million annual salary, Mayer will get $2 million yearly in if Yahoo! hits marks, according to paperwork filed with the US .

Mayer -- who was named to the job on Monday -- this year will also get $12 million in stock grants and options that will vest over the coming three years, the filing indicated.

The 37-year-old will get a "one-time retention award" totaling $30 million worth of stock and stock options to vest during a five-year period, according to the Sunnyvale, California-based company.

Mayer will be award another $14 million worth of stock to make up for compensation she forfeited by leaving this week to take charge of Yahoo!.

Mayer -- one of Google's first employees -- is now arguably the most prominent woman in Silicon Valley and a rare female CEO at one of America's largest firms.

After the end of this year, Mayer will also be eligible to enjoy benefits generally available to other top Yahoo! executives, such as 20 days of vacation annually.

At Google, Mayer was responsible for local and geographical products including , Google Earth, Zagat, , and local search for desktop and mobile.

She joined Google in 1999 as its 20th employee "and led efforts for many of Google's most recognizable products, including the development of its flagship search product and iconic homepage for over 10 years," according to Yahoo!.

The appointment "signals a renewed focus on product innovation to drive user experience and advertising revenue for one of the world's largest consumer Internet brands," Yahoo! said.

No sooner was Mayer named chief executive of Yahoo! than she announced she's pregnant. In doing so, she ramped up a lively ongoing debate in the United States about working moms.

Mayer took to Twitter to say she's expecting "a new baby boy" in October with partner Zack Bogue, a venture capitalist.

"I like to stay in the rhythm of things," she later told Fortune magazine.

"My maternity leave will be a few weeks long, and I'll work through it," she added, as if to reassure Yahoo! shareholders that motherhood won't get in the way as she settles into her new corner office.

Yahoo! -- which Tuesday reported a four percent drop in quarterly profits to $226.6 million -- is struggling in the dog-eat-dog world of Internet technology.

Explore further: Out-of-patience investors sell off Amazon

add to favorites email to friend print save as pdf

Related Stories

New Yahoo! CEO Mayer pregnant

Jul 17, 2012

Marissa Mayer, the former senior Google executive who on Tuesday will take over the reins of Internet pioneer Yahoo!, is pregnant and expecting the baby in October. ...

Recommended for you

Out-of-patience investors sell off Amazon

8 hours ago

Amazon has long acted like an ideal customer on its own website: a freewheeling big spender with no worries about balancing a checkbook. Investors confident in founder and CEO Jeff Bezos' invest-and-expand ...

States ascend into the cloud

15 hours ago

Seven years ago, the state of Delaware started moving computer servers out of closets and from under workers' desks to create a consolidated data center and a virtual computing climate.

Microsoft drops Nokia name from smartphones

17 hours ago

Microsoft said Friday it was dropping the Nokia name from its Lumia smartphones, rebranding following the acquisition earlier this year of the Finnish group's handset division.

Amazon's loss makes holidays a question mark

17 hours ago

Amazon's trademark smile icon is becoming more of a grimace. The world's largest online retailer reported a wider third-quarter loss than analysts expected and gave a disappointing holiday forecast.

User comments : 0