Tuesday March 14, 2017

Marissa Mayer Will Leave Yahoo with a $23-Million Golden Parachute

She can’t keep getting away with it! It’s another "CEO screws up and laughs all the way to the bank" episode, as the soon-to-be-ex Yahoo head is getting over $20 million for failing to veer the company away from impending glaciers and destroying its reputation even further. Her payoff was originally $55 million but was slashed due to the Verizon sale and its re-negotiations.

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Marissa Mayer will soon be out of a job, but a multimillion-dollar check should cushion the blow. The Yahoo CEO may get a $23 million payout if and when the beleaguered tech giant finalizes the sale of its core business to Verizon, according to a regulatory filing released Monday. The golden parachuteآ—around $20 million of which is equity and the remainder cashآ—is contingent on Mayer being terminated without cause within a year of the sale. The disclosure comes as Yahoo still reels from the belated revelation of two massive security breaches from years earlier that made Verizon second-guess its $4.8 billion sale. The hesitation ultimately led to a $350 million discount for the telecom.