Yahoo Appoints New CEO, Marissa Mayer, For $1 Million Salary
Yahoo is now officially the sideshow of Silicon Valley. The company can’t seem to keep a CEO in place and no matter what any appointment does, the Yahoo story just becomes more comedic and tragic in many ways.
Scott Thompson was supposed to be the savior of the floundering company; turns out he wasn’t qualified for the job and was fired for padding his resume. Ouch. But not to be outdone, Yahoo’s board has gone out and hired a former Google executive in Marissa Mayer.
According to SEC filings made by the company, Mayer will receive just over $1 million base salary. She’ll be eligible to participate in an incentive plan worth 200% of base salary. If she exceeds targets in 2012, she’ll receive a max incentive of 400% of base salary. So far so good.
No CEO pay package is complete without stock options and Mayer will receive in the form of an ‘annual equity award’, $12 million. Add to that the “make whole restricted stock unit” grant of $14 million, and the “one-time retention equity award” of $30 million and Mayer become fat pretty soon.
Of course the real test will be whether she can steer the disaster that is Yahoo into the clear. Many have tried, all of failed, let’s see how she gets on.