Thursday March 02, 2017

Sorry Marissa, No Bonus Due to Massive Yahoo Hacks

Should we feel bad for her? Nope, especially after Yahoo’s top lawyer took the fall for the company’s hacking failure instead of Meyer and the board. The CEO’s bonus will be rightfully distributed to employees instead, and it comes after a recent report that a forged cookie attack compromised about 32M accounts.

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Mayer won't get her annual bonus and will forgo any 2017 equity in response to findings from an investigation by the company's board into two massive hacks during her time as head of the company. The investigation update, released Wednesday along with a 10-K financial filing for 2016, found that senior executives and Yahoo's legal team didn't sufficiently pursue the security incidents. Ronald Bell, Yahoo's general counsel and secretary, also resigned as of Wednesday. "I am the CEO of the company and since this incident happened during my tenure, I have agreed to forgo my annual bonus and my annual equity grant this year," Mayer said in a statement, "and have expressed my desire that my bonus be redistributed to our company's hardworking employees, who contributed so much to Yahoo's success in 2016."