Yahoo's Departing CFO to Get Generous Severance

CommanderFrank

CommanderFrank

Cat Can't Scratch It
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May 9, 2000
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Tim Morse, the present CFO of Yahoo, is leaving his post on November 15 under less than perfect conditions. He was part of Marissa Mayer’s restructuring plan to breathe new life back into Yahoo. But don’t shed any tears over his departure, just because he is leaving the company doesn’t mean he is leaving empty handed. His severance package is larger than some Third World country’s GNP.

One of the first major decisions made by Marissa Mayer, Yahoo's new chief executive was to replace Morse with Fortinet Inc CFO Ken Goldman, who was named to the position on September 25.
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"performance-based stock options worth as much as $12 million"

LOL wut? Must have been some pretty low performance goals. And they can't figure out why the company is in trouble.
 
Man talk about a racket, you work for a company for 3 years and potentially make out with 10x your salary over than 3 years as a "severance" package. It's funny that you'd hear all the testifying from the big companies that they NEED to offer this to attract good talent... well obviously they don't because they're still getting shit
 
Seems like a bare minimum package to keep him above the common folk...

/sarcasm off
 
every night, i dream of the day when I can be an executive and make a bajillion bucks in one year.

I would just retire and live off stock dividends.
 
Must be nice to make more for getting fired than most people make in a lifetime.
 
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