Yahoo’s New Male CEO Will Make Double Marissa Mayer’s Salary
Status: Available Now!
Type: News
Date: Monday 13 March 2017, 12:00 AM
Media: Fortune

About the person Marissa Mayer:
Art: Corporation, Politics
Genres: Executive, Information Technology, Internet, Management, Media, Philanthropy, Social Media, Telecommunication, Activism, Staff, Democratic Party, Economic Liberalism, Social Liberalism, Modern Liberalism, CEO, President
Notable Organizations: Fortune
Even after Yahoo goes through with the sale of its core business, it will still pay its top executives handsomely—and in some cases, even better than it did before. In announcing a plan for the company's future Monday, Yahoo (yhoo, -0.64%) said it had picked a new CEO to replace Marissa Mayer once its deal with Verizon (vz, -0.25%) officially closes. Yahoo is selling its technology and advertising business to Verizon, and the remaining company will consist only of the hoard of Alibaba (baba, -0.73%) stock that Yahoo owns, its stake in Yahoo Japan, and a miscellaneous array of smaller investments. Running the leftover stump of Yahoo is likely to be a much simpler and easier job than the one Mayer had, from which she is walking away with a $23 million severance package. Add to that the $69 million worth of unexercised stock options awarded to Mayer, plus the $97 million of Yahoo stock she already owns (which she'll be free to sell when she leaves the company), and Mayer's net worth is set to increase by about $189 million. (That's even after she voluntarily gave up about $20 million of her annual stock bonus this year after taking fire for the cyber attacks Yahoo recently suffered. It's also significantly more than Fortune's estimate two months ago of $141 million for Mayer's total payday, thanks to new equity grants and stock price appreciation in the meantime.) But Mayer's replacement, Thomas McInerney, seems in many ways to be getting an even sweeter deal. McInerney, the former chief executive of IAC (iac, -0.71%) (the Internet media company once known as InterActiveCorp, which owns dating sites including (mtch, -1.43%)), will get a starting base salary of $2 million to become Yahoo's new CEO, according to the offer letter made public Monday. That's double the $1 million base salary that Mayer currently takes home.
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