New Yahoo CEO Marissa Mayer Pay Package Worth $129 million
Generous pay package by Yahoo as company hires Google’s first female engineer and earliest employee to turn things around and bring Yahoo to a new level
While the tech world is still reverberating from the latest news of the appointment of Yahoo’s new CEO Marissa Mayer taking the helm of the Fortune 500 company, news about Mayer’s pay package has begun to surface. Yahoo has been known to offer generous remunerations to its list of CEOs.
Last September 2011, previous Yahoo CEO Carol Bartz who was fired by the Yahoo board was reported to have received up to $3 million in severance which included stock grants and options that were worth millions. She was the CEO of Autodesk, an architectural and engineering design software company before joining Yahoo as CEO.
Replacing Bartz was Scott Thompson from PayPal which managed to serve as Yahoo CEO for only 5 months before stepping down from the role due to educational credentials from his resume. He had a $1 million annual salary and was able to keep about $6.5 million in Yahoo stock grants.
However, Marissa Mayer’s pay package could very well be worth $129 million over a span of 5 years. This is definitely worth more than what the previous Yahoo CEOs were getting. Her pay package includes $1 million in annual salary with a $2-4 million target bonus. Mayer is also getting $14 million in stock grant to compensate for the Google stock she left behind when she resigned as VP for Google’s local, search and map services.
As one of Google’s earliest employees (she was the 20th employee at Google joining in 1999), Mayer received a windfall when Google announced its initial public offering. The amount that she received was estimated to be around $300 million of which she bought a penthouse on top of the Four Seasons Hotel in San Francisco.
On top of that, Yahoo will give her $30 million as a retention award over a period of 5 years and $12 million equity award in stock and options which will vest over the next 3 years.
In total, Mayer could stand to get a pay package worth up to $129 million in a span of 5 years with Yahoo provided the company’s stock value improves and she is able to bring the tech giant to a whole new level where her previous predecessors have failed. Product managers in Yahoo were reported to be excited with the new services that she will introduce to transform the company.
Mayer was quoted as saying that she will be moving into two tough jobs this week – taking the helm at Yahoo on Wednesday and becoming a mom in October. While the Yahoo board knew of Mayer’s pregnancy when they interviewed her, they went ahead to offer her the job of new CEO of Yahoo.
With that amount of money and work expectation, Mayer could certainly afford to pamper herself like a celebrity. It would come as no surprise if she had a bathroom fit for one who needed to rejuvenate herself after work. Her penthouse has a custom Dale Chihuly glass installation covering the ceiling.
Since Mayer and her husband will be expecting their first baby boy this October, perhaps she will spruce up the interior gallery of her home to prepare the environment for both work and motherhood as she recently tweeted that she will be working through her maternity leave.
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