Business in Tech

Marissa Mayer To Receive A $186m Parting Handshake From Yahoo Plus Another $3m Parachute Money

Marissa Mayer, the outgoing Yahoo CEO will leave the company in June when the deal with Verizon is expected to be finalised. That said, she won’t be leaving empty handed though. She currently own 4.5 million shares of Yahoo stock and as CNN is reporting that “Once Mayer pays to exercise her options, she’ll be left with $186 million, based on Yahoo stock’s closing price of $48.15 a share on Monday.

She will also get a $3 million golden parachute — cash severance that accompanies the sale of the company.”

You’ll recall that Mayer and other Yahoo execs were not paid their 2016 bonuses particularly because of the massive breach reports which eventually made Verizon get a $350m discount on its original $4.8b bid for Yahoo.

Marissa has largely not been able to turn Yahoo’s fortunes around in spite of the many acquisition efforts she made including Tumblr. She oversaw the entire acquisition process though and made some other investments for Yahoo.

We don’t know the next job she would land but for now, starting in June she’s likely to be looking for a new one.

The new Yahoo + AOL (another Verizon acquisition) will be called Oath while Yahoo Japan and what’s left of Yahoo will be called Altaba.