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Yahoo CEO Marissa Mayer will earn $1m a year

Plus bonuses that could add up to of tens of millions if she manages to turn the company around
Fri Jul 20 2012, 15:58
marissa-mayer-speaking

INTERNET PORTAL Yahoo's latest CEO Marissa Mayer will take an annual salary of $1m, an SEC filing by Yahoo has revealed.

Plus bonuses, her compensation could add up to tens of millions if she manages to turn the company around.

Yahoo poached Google's Marissa Mayer on Tuesday to become its CEO and president.

Yahoo's SEC filing reveals that besides a $1m annual salary, she will also be eligible for an annual bonus with a "target amount of 200 per cent of base salary" depending on her performance and how well the company does as a result.

The SEC filing reveals that she will also receive an equity award for 2012 of $12 million in stock, as well as being eligible for annual stock grants every year.

Mayer previously worked for Yahoo's internet search rival Google, joining the internet giant in 1999 as its 20th employee and first female software engineer. She recently worked on projects including Local, Maps and Location Services, helping the firm to develop products including Google Earth, Street View and Local Search.

Mayer said she was "honoured and delighted" when her appointment as Yahoo CEO was announced earlier this week.

"I look forward to working with the Company's dedicated employees to bring innovative products, content, and personalized experiences to users and advertisers all around the world," she said.

While this sounds like a good move for Yahoo, analysts are sceptical as to whether Mayer is the right person to turn the company around. Shar VanBoskirk said that Mayer's focus on product engineering is a bad fit for a company in need of a larger strategic overhaul.

"Yahoo's fundamental problem is that it has too many disparate products with no clear unifying thread that ties them all together," VanBoskirk said.

"And Mayer's background is in product development... not corporate strategy, not marketing, not brand definition... the areas where Yahoo has the most critical need." µ

 

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