Yahoo pays CEO $1.1M bonus for five months of work
Yahoo CEO Marissa Mayer received a $1.1 million bonus for her first five-and-half months running the Internet company.
The award disclosed Wednesday supplements Mayer's annual salary of $1 million and $56 million in long-term stock compensations that she received after Yahoo Inc. lured her away from Google Inc. to become its CEO last July. The amount included $14 million in stock to offset the loss of money that she would have received had she remained at Google.
The 37-year-old Mayer is eligible for an annual bonus of up to $2 million. Yahoo adjusted last year's bonus to reflect that Mayer spent less than half the year as CEO.
Yahoo shareholders are unlikely to quibble with Mayer's bonus. The company's stock has risen by 46 percent since Mayer became the boss.
Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.