New Yahoo CEO Marissa Mayer Is Really in the Money
(NEW YORK) — That sound you hear of someone yelling “Yahoo!” comes from none other than its new chief executive, former Google big-wig Marissa Mayer.
The struggling Internet company announced earlier this week that the 37-year-old, who is also due to give birth to her first child in October, was named as its fifth CEO in five years.
On Thursday, Yahoo released some details of what Mayer will be receiving to help turn around its fortunes and by the looks of things, she did better than okay for herself.
The package over five years could reach as high as $100 million in compensation, stock, bonuses and retention awards.
Over the course of the next five-plus months, Mayer will earn $5.4 million and then collect an estimated $20 million annually, some of which will be tied to her satisfying performance targets.
Mayer’s stock units are figured at $14 million to help make up for some of the lost compensation from Google, where she worked for 13 years after becoming the search engine’s 20th employee.
Yahoo still gets about 700 million visitors per month to its various sites but has suffered losses over the years that necessitated laying off 2,000 employees during 2012. It’s believed that one of Mayer’s goals is to help Yahoo develop innovative Web services.
Copyright 2012 ABC News Radio