New Yahoo CEO Marissa Mayer to Receive $70 Million Over Five Years
July 20, 2012 9:17 AM
(Source: OLIVER LANG/Getty Images )
Annual salary for Mayer is $1 million
Many people believe Yahoo is on a continued downward spiral. The once massive web portal and search engine has been overshadowed by Google and has gone through a series of different CEOs in a relatively short period of time. So far, no one seems to be able to pull Yahoo out of the ditch.
chose Marissa Mayer as its new CEO
. Mayer was employee number 20 for Google and held a high position within the search giant. Many were likely wondering what exactly Yahoo offered Mayer to lure her away from her cushy and secure job with Google to the decisively unknown realm of Yahoo.
A regulatory filing presented by Yahoo yesterday outlines Mayer's new compensation package, and it's huge. Undoubtedly, the massive $70 million package was a large part of the reason Mayer left Google and went to Yahoo. The compensation package works out to $70 million in salary, bonuses, restricted stock, and stock options over the next five years. The new CEOs annual salary is $1 million and she can earn as much as $2 million in annual bonus.
The stocks options are worth $42 million and there's an additional $14 million in "make whole restricted options" that compensates Mayer for the forfeiture of compensation from Google.
reports that if you include some of the stock grants Mayer could earn as much as $20 million a year or $100 million over the five-year term of her contract.
Mayer was the first female Google engineer and one of the company's earliest employees. She is already estimated to be worth as much as $300 million. Of course, if Yahoo continues its decline those stock options could be worth less than expected.
"We don't know how to make a $500 computer that's not a piece of junk." -- Apple CEO Steve Jobs
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