Yahoo’s New Male CEO Will Get Twice Marissa Mayer’s Salary
The guy hired to run what’s left of Yahoo after it imploded under Marissa Mayer will get twice her salary, according to a new filing.
The company named board member Thomas McInerney, 52, as the head of its new spinoff company, Altaba.
McInerney, former CFO at IAC media company – which owns brands such as Tinder, OKCupid, and the Princeton Review – is to get a $2 million base pay, the company announced in an SEC filing Monday.
Mayer isn’t going entirely gently into the good night, she’ll get a $23 million golden parachute, as well as around $57 million in stock options.
After the company has sold the vast majority of its internet assets to Verizon, McInerney will be running just a nub of the former powerhouse. Altaba will essentially be an investment shell to manage a small but profitable stake in Chinese internet giant Alibaba.
Following revelations that Yahoo had allowed 1 billion of its users’ email accounts to be compromised, Yahoo was forced to cut its sale price to Verizon by $350 million. Mayer also forfeited her 2016 annual bonus of $2 million and her 2017 annual equity grant of $12 million