When Marissa Mayer made it to the helm of Yahoo, it was joy and jubilation for many who considered her a model figure and the savior for Yahoo. However, while the firm she led kept failing to reach its goals, she was great at ensuring she pockets as much money from it as possible.
After Yahoo was bought by Verizon, it was revealed by The Wall Street Journal that she stands to gain up to a cool $186 million. That amount includes a $23 million golden parachute payout. The rest is in the form of restricted stock options, stock options, and Yahoo stock. It is thus no surprise that she has pocketed at least $200 since joining Yahoo back in 2012.
Mayer was picked from Google to bring the company back to its previous glory days. However, she tended to fail even further with her trials to play catch-up to the rest of the tech world. Even more damaging to her reputation were the hacks in 2013 and 2014 (which have seen her forgo her 2016 and 2017 bonuses).
Last month, she released a statement to the public saying “I am the CEO of the company and since this incident happened during my tenure, I have agreed to forgo my annual bonus and my annual equity grant this year and have expressed my desire that my bonus be redistributed to our company’s hardworking employees, who contributed so much to Yahoo’s success in 2016.”
While a successful show of public goodwill, whatever she gave up in bonuses must have been very little compared to what she has earned from the sale of Yahoo. A clever lady she must be since $186 million is not an amount easy to come by.
Details about the purchase of Yahoo by Verizon reveal that she could have earned even more. The original price Verizon was willing to pay for Yahoo was $4.83 billion. However, when the hacks on Yahoo (revealed above) were discovered, a lower price was renegotiated. Without the breaches, her payout could have been about $200 million or thereabouts.
The purchase of Yahoo by Verizon will be voted for (or against) on the 8th of July by investors. Financial protocols require that Mayer and other top executives have access to accelerated vesting of stock-based awards and stock options. After the closing of the deal, all the stocks option in Yahoo will be fully exercisable and vested.
Verizon intends to form another company from Yahoo called Oath where Mayer and the former Yahoo management team will not be part of. While she was great at cashing in, she did a great job trying to keep the internet giant on the life support machine.