Mayer gets $70 million pay package to lead Yahoo

marissamayer-afp.jpg.crop_display.jpg

New Yahoo chief executive Marissa Mayer's compensation package could total more than $70 million in salary, bonuses, restricted stock and stock options over five years, according to a regulatory filing made by the company on Thursday.

Mayer's pay package is broken out into $1 million in annual salary, as much as $2 million in an annual bonus, and $42 million in stock options and other awards, as well as $14 million in 'make whole restricted options' for forfeiture of compensation from Google Inc.

As the first female Google engineer and one of its earliest employees, Mayer's net worth is already estimated to be as much as $300 million.

Yahoo's hiring of Mayer as CEO from Google earlier this week caught analysts, investors and even some employees by surprise.

Mayer, 37, edged out presumed front-runner and acting CEO Ross Levinsohn to become Yahoo's third CEO in a year.

Industry observers believe Mayer's selection over Levinsohn is a signal that Yahoo is likely to renew its focus on Web technology and products rather than beefing up online content.

Her appointment caps a tumultuous year at Yahoo. In May, Scott Thompson resigned as CEO after less than 6 months on the job as a controversy flared up over his academic credentials.

Thompson replaced the controversial Carol Bartz, fired in September after failing to revitalize Yahoo.

Thompson's total compensation at hire was valued at $27 million. He got no severance but was able to keep the $7 million in compensation he got for leaving Paypal. Bartz got more than $10 million in severance when she was fired last year.

A self-described 'geek' with a master's degree in computer science from Stanford, Mayer has frequently championed bringing more women into tech.

Mayer reported for her first day of work as CEO on Tuesday, the same day Yahoo announced weak financial results, with flat net revenue and a slight decline in profit during the second quarter.

Though she was on the company's sprawling Sunnyvale, Calif, campus, she did not participate in its earnings call.

For his part, Levinsohn was also absent from the call, which was led by Yahoo's Chief Financial Officer Tim Morse.

GLAMOROUS LIFE

Mayer joins Yahoo as something of a celebrity, having already established herself as one of Silicon Valley's leading women, both inside and outside of the office.

She is known for her love of fashion and regularly appears on the society pages for hosting parties -- from intimate literary salons in her Four Seasons penthouse in San Francisco to Christmas bashes at her home in Silicon Valley near the Googleplex.

In 2009 she married real estate investor Zachary Bogue -- Mayer tweeted that the couple is expected their first child, a boy, in October.

In 2010, the couple hosted a $30,000-a-plate fundraiser dinner for President Obama at Mayer's Palo Alto home.

And late last year, Mayer became an Internet meme after she was filmed dancing to an MC Hammer beat in a YouTube video made to support San Francisco Mayor Ed Lee's election effort.

Despite the upheaval, Yahoo remains one of the world's most popular websites, with more than 700 million monthly visitors, according to the company.

But the company has seen its revenue growth stall, amid an industrywide decline in online display advertising prices and competition from Facebook Inc and Google.

Visitors to Yahoo-branded websites increased 2 per cent year-on-year during the second quarter, Yahoo said.

But queries on Yahoo's U.S. core search websites declined 17 per cent during the second quarter, the number of minutes visitors spent on its media properties fell 10 per cent.

Post new comment

<form action="/comment/reply/172927" accept-charset="UTF-8" method="post" id="comment-form"> <div><div class="form-item" id="edit-name-wrapper"> <label for="edit-name">Your name: <span class="form-required" title="This field is required.">*</span></label> <input type="text" maxlength="60" name="name" id="edit-name" size="30" value="Reader" class="form-text required" /> </div> <div class="form-item" id="edit-mail-wrapper"> <label for="edit-mail">E-Mail Address: <span class="form-required" title="This field is required.">*</span></label> <input type="text" maxlength="64" name="mail" id="edit-mail" size="30" value="" class="form-text required" /> <div class="description">The content of this field is kept private and will not be shown publicly.</div> </div> <div class="form-item" id="edit-comment-wrapper"> <label for="edit-comment">Comment: <span class="form-required" title="This field is required.">*</span></label> <textarea cols="60" rows="15" name="comment" id="edit-comment" class="form-textarea resizable required"></textarea> </div> <fieldset class=" collapsible collapsed"><legend>Input format</legend><div class="form-item" id="edit-format-1-wrapper"> <label class="option" for="edit-format-1"><input type="radio" id="edit-format-1" name="format" value="1" class="form-radio" /> Filtered HTML</label> <div class="description"><ul class="tips"><li>Web page addresses and e-mail addresses turn into links automatically.</li><li>Allowed HTML tags: &lt;a&gt; &lt;em&gt; &lt;strong&gt; &lt;cite&gt; &lt;code&gt; &lt;ul&gt; &lt;ol&gt; &lt;li&gt; &lt;dl&gt; &lt;dt&gt; &lt;dd&gt;</li><li>Lines and paragraphs break automatically.</li></ul></div> </div> <div class="form-item" id="edit-format-2-wrapper"> <label class="option" for="edit-format-2"><input type="radio" id="edit-format-2" name="format" value="2" checked="checked" class="form-radio" /> Full HTML</label> <div class="description"><ul class="tips"><li>Web page addresses and e-mail addresses turn into links automatically.</li><li>Lines and paragraphs break automatically.</li></ul></div> </div> </fieldset> <input type="hidden" name="form_build_id" id="form-da6651689219019f91b5005466c51f55" value="form-da6651689219019f91b5005466c51f55" /> <input type="hidden" name="form_id" id="edit-comment-form" value="comment_form" /> <fieldset class="captcha"><legend>CAPTCHA</legend><div class="description">This question is for testing whether you are a human visitor and to prevent automated spam submissions.</div><input type="hidden" name="captcha_sid" id="edit-captcha-sid" value="82338225" /> <input type="hidden" name="captcha_response" id="edit-captcha-response" value="NLPCaptcha" /> <div class="form-item"> <div id="nlpcaptcha_ajax_api_container"><script type="text/javascript"> var NLPOptions = {key:'c4823cf77a2526b0fba265e2af75c1b5'};</script><script type="text/javascript" src="http://call.nlpcaptcha.in/js/captcha.js" ></script></div> </div> </fieldset> <span class="btn-left"><span class="btn-right"><input type="submit" name="op" id="edit-submit" value="Save" class="form-submit" /></span></span> </div></form>

No Articles Found

No Articles Found

No Articles Found

I want to begin with a little story that was told to me by a leading executive at Aptech. He was exercising in a gym with a lot of younger people.

Shekhar Kapur’s Bandit Queen didn’t make the cut. Neither did Shaji Karun’s Piravi, which bagged 31 international awards.