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March 13, 2017 06:00 pm
Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/BGGHLGfgblQ/yahoos-marissa-mayer-could-get-23m-exit-payment-ex-iac-executive-will-become-ceo
Yahoo's Marissa Mayer Could Get $23M Exit Payment, Ex-IAC Executive Will Become CEO
Yahoo has named a replacement for CEO Marissa Mayer once the merger with Verizon becomes official. The next leader of the Sunnyvale-based tech giant will be Thomas J. McInerney, a former chief financial officer of IAC. From a report: Yahoo said Monday that after it completes the sale of its core search business to Verizon and Marissa Mayer and co-founder David Filo step down as board members of Altaba (the new name for the remaining holdings), Mayer could get a $23 million "golden parachute" payment, and Thomas McInerney will run the remaining part of the business as CEO. Mayer's golden parachute, a large payment for top executives if they lose their position as a result of a deal, would include $19.97 million in equity and more than $3 million in cash, according to a regulatory filing. It would kick in if there is a change in control, as will be the case in the deal, and she is terminated "without cause" or "leaves for good reason" within a year.Read more of this story at Slashdot.
Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/BGGHLGfgblQ/yahoos-marissa-mayer-could-get-23m-exit-payment-ex-iac-executive-will-become-ceo
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