Marissa Mayer Will Leave Yahoo with a $23-Million Golden Parachute

Megalith

Megalith

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She can’t keep getting away with it! It’s another “CEO screws up and laughs all the way to the bank” episode, as the soon-to-be-ex Yahoo head is getting over $20 million for failing to veer the company away from impending glaciers and destroying its reputation even further. Her payoff was originally $55 million but was slashed due to the Verizon sale and its re-negotiations.

Marissa Mayer will soon be out of a job, but a multimillion-dollar check should cushion the blow. The Yahoo CEO may get a $23 million payout if and when the beleaguered tech giant finalizes the sale of its core business to Verizon, according to a regulatory filing released Monday. The golden parachute—around $20 million of which is equity and the remainder cash—is contingent on Mayer being terminated without cause within a year of the sale. The disclosure comes as Yahoo still reels from the belated revelation of two massive security breaches from years earlier that made Verizon second-guess its $4.8 billion sale. The hesitation ultimately led to a $350 million discount for the telecom.
 
"The disclosure comes as Yahoo still reels from the belated revelation of two massive security breaches from years earlier that made Verizon second-guess its $4.8 billion sale. The hesitation ultimately led to a $350 million discount for the telecom."

IMHO, Verizon is still overpaying; by about $4.4 billion
 
i dont care what companies pay for severance when its men, and apparently i dont care when its women .

look at that: progress!
 
I still can't believe you can get paid multimillion dollars to get fired for doing a shitty job for a company....why can't i be a CEO and drive a company into the ground and get paid $20+ million to leave....
 
Almost the exact same amount that Carly Fiorina got when she was booted from HP...after going full stupid and shutting down almost all US-based manufacturing facilities and opening up replacements in China and Mexico, as well as paving the way for all customer help desk support based out of India. 10s of thousands of Americans lost their jobs because of her do-nothing approach by thinking customers would just naturally buy HP products no matter what. Should've dumped the costly (and obviously failing) Itanium projects and put that money into better consumer and enterprise mainstream product R&D. Not that she cared...the took that money and laughed all the way to the bank. Hurd came along and did the exact same things/finished what she started.

http://fortune.com/2015/09/17/carly-fiorina-business-record/

Yahoo had the entire web in the palm of its hand...how the FUCK did they manage to chew it up, shit it out, and flush it down in such a short amount of time? The odds of actually being able to attain such mediocrity from the mountain fortress they had built is mind boggling...
 
SomeoneElse said:
I still can't believe you can get paid multimillion dollars to get fired for doing a shitty job for a company....why can't i be a CEO and drive a company into the ground and get paid $20+ million to leave....
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It's always interesting to see reactions to the pay of high-end professionals from business to sports. People at this level, even when they fail, have to be paid to get them in the first place. I do think that it perverts the natural order of incentivization. Yahoo was too far gone for anyone to save it by the time Mayer got there. The biggest mistake Yahoo ever made was bucking Microsoft's buyout, which I'm guessing now Microsoft is very happy fell through.
 
I'm glad to hear this. She has enough now that she will never need to become a paid porn star. Overall, that saves us all. :p
 
ob1 said:
Why is this even news? Is it because she is female or something? How many CEO's screw their companies over and get these kind of payouts?
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It's also reported very often when male CEOs get massive golden parachutes to drive their companies into the ground as well. Gender has nothing to do with it. It's significant because it shows the world how much money they're getting at the expense of employees and shareholders. There are very few places where you can make $23 million in a single payout to suck at your job for a few years, and that was AFTER it was reduced.
 
HockeyJon said:
There are very few places where you can make $23 million in a single payout to suck at your job for a few years, and that was AFTER it was reduced.
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It's just the nature of a high-end professional job be it a big cap CEO or an NFL wide receiver. I don't like it more than anyone else but that's the nature of business when you're dealing with elite people and positions.
 
I'm sure she's pissed about her payoff being cut down, she's only worth 400 million apparently, how ever will she manage.:rolleyes::sick:

gunbust3r said:
Five posts in without the required Marissa laughing compilation?

/Fixed
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Jesus Christ, sounds like an Exorcism in progress. :eek::eek::eek:
 
Yes, it's the nature that dealing with elites, money becomes exponentially more, but a wide receiver who's terrible doesn't get paid much in comparison to decent ones.
 
Nytegard said:
Yes, it's the nature that dealing with elites, money becomes exponentially more, but a wide receiver who's terrible doesn't get paid much in comparison to decent ones.
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Mayer would have made a lot more money at Yahoo had she been successful was well.
 
It's a high risk world being a CEO, people don't understand that. I mean, only the most successful CEOs make a metric fuck tonne of money, if you fail horribly you will only make a huge amount of money. That's not an easy life to live......
 
People are way to hard on Marissa, IMHO.

She agreed to be the captain of a sinking ship knowing she would get a paid well.

She tried her best to keep it from sinking. I think Yahoo would have died no matter what. It's the MySpace of search engines.
 
She managed to sell what's left of Yahoo for over 4 billion. How is that not doing a great job?
The one who messed up was Yang, passing up on selling it for 44 billion.
 
heatlesssun said:
It's always interesting to see reactions to the pay of high-end professionals from business to sports. People at this level, even when they fail, have to be paid to get them in the first place. I do think that it perverts the natural order of incentivization. Yahoo was too far gone for anyone to save it by the time Mayer got there. The biggest mistake Yahoo ever made was bucking Microsoft's buyout, which I'm guessing now Microsoft is very happy fell through.
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By no means am i pointing out only Mayer's pay i'm talking the world of CEO contracts. I mean yea they can make or break a vision of a company but to get fired and get a huge pay out at the time you leave. Its just jacked....people get fired or let go and often times get nothing or may 2-3 months salary (if layed off). Getting fired from a job doesn't deserve a pay off just my opinion. The company is already losing money why not lose more when you have to pay the CEO multi millions to leave....o_O
 
ob1 said:
Why is this even news? Is it because she is female or something? How many CEO's screw their companies over and get these kind of payouts?
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No, it makes the news quite a bit regardless of sex.
It should always make the news, its disgusting and insane.
Its real class warfare, again, elites are very much class conscious, and they seem to protect each other to an extent.. golden parachutes and overpaid 'talks' being some of the tools.
 
Must be nice to fail abysmally and still hit the jackpot.

Anyone who thinks that CEO and executive pay is reasonable needs to have their head examined.
 
Zarathustra[H] said:
Must be nice to fail abysmally and still hit the jackpot.

Anyone who thinks that CEO and executive pay is reasonable needs to have their head examined.
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Agreed. They get paid way too much when they delegate most of their work to others.
However, I believe, if they're going to get paid a shit ton, it should be performance based. If your decision costs the company thousands to millions of dollars, your pay should be cut.
 
I just find it strange that no one's ever bothered to fix golden parachutes. They were originally designed to protect against hostile takeovers where the acquiring company would then fire the old executives. Have a ludicrous payout to prevent acquiring a company that wants to stay independent, or keep their staff on board. Instead, it's now applied to practically anything that involves an executive leaving. To me, it seems like an easy fix. If you voluntarily quit, or are fired that doesn't involve a merger, you get nothing.
 
Nytegard said:
I just find it strange that no one's ever bothered to fix golden parachutes. They were originally designed to protect against hostile takeovers where the acquiring company would then fire the old executives. Have a ludicrous payout to prevent acquiring a company that wants to stay independent, or keep their staff on board. Instead, it's now applied to practically anything that involves an executive leaving. To me, it seems like an easy fix. If you voluntarily quit, or are fired that doesn't involve a merger, you get nothing.
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I did not realize that was the original justification. Good info, thanks.
 
Nytegard said:
I just find it strange that no one's ever bothered to fix golden parachutes. They were originally designed to protect against hostile takeovers where the acquiring company would then fire the old executives. Have a ludicrous payout to prevent acquiring a company that wants to stay independent, or keep their staff on board. Instead, it's now applied to practically anything that involves an executive leaving. To me, it seems like an easy fix. If you voluntarily quit, or are fired that doesn't involve a merger, you get nothing.
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Is there any reading I can do, regarding this?
 
MrTryfe said:
Is there any reading I can do, regarding this?
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Investopedia is a good starting point.

As far as books:

Den of Thieves: https://www.amazon.com/Den-Thieves-James-B-Stewart/dp/067179227X

It's about the 80's junk bond and insider trading scandals (Milken, Boesky, Levine). The junk bond era was notorious for giving rise to golden parachutes. They've existed a lot longer than that, but not to the same extent, and it wasn't embedded in our culture the way it is now.
 
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Shotglass01 said:
I'm glad to hear this. She has enough now that she will never need to become a paid porn star. Overall, that saves us all. :p
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Her yearly passive income very likely matches this "golden parachute". Even before this payout... 60k/day is plenty

I'd still hit it despite the laugh.
 
"Marissa Mayer: The Yahoo CEO is as reliably Democratic as they come. She’s given a ton of money to the Democratic National Committee and is one of President Obama’s most successful Silicon Valley bundlers."

hmmm...damn war on women
 
scojer said:
Agreed. They get paid way too much when they delegate most of their work to others.
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Problem was she could not delegate. They said she was micromanaging down to personally approving or denying every single hire/resume in the entire company.
 
This is the heart of modern capitalism, right here. It ALWAYS flows up.
 
Zarathustra[H] said:
Must be nice to fail abysmally and still hit the jackpot.

Anyone who thinks that CEO and executive pay is reasonable needs to have their head examined.
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If you want a fun project. Follow the board of directors that oversaw the fall of Nokia. This is a very exclusive little club that takes care of their own.
 
Look at it from Marissas, side, if you were offered a position as a well known exec to head a failing company would you do it without some major gain for yourself? Probably not, the chances of success at Yahoo were low, very low, so she was obviously going to negotiate in a major payoff given that she was assuming a huge risk even taking the job as it was almost certain to do harm to her reputation.
 
Nothing to see here.. it was all part of the plan worked out way in advance..

marissa_mayer_23_mil.jpg
 
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