Marissa Mayer To Leave Yahoo With $186 Million From Verizon Deal

Tyler Durden's picture

Having failed at the task for which she was hired (with Dan Loeb's help) some five years ago, namely turning Yahoo around, and set to terminate her relationship with Yahoo after it is fully consumed by Verizon in a few months, there was speculation what if any golden, or lead, parachute Yahoo CEO Marissa Mayer would receive. The answer: the soon to be former YHOO Chief Executive is set to make at least $186 million as a result of the internet company’s sale of its core business to Verizon Communications Inc., according to securities filings, the WSJ reported.

The staggering figure is over seven times greater than the $23 million "golden parachute" Yahoo said last month that Mayer would receive as part of her planned departure from what’s left of the company after the sale to Verizon. Yahoo also said that Ms. Mayer held nearly 2.9 million stock options valued at $56.8 million as of early March. Somehow, an additional $100 million slipped through thre cracks.

We are not the only ones who are skeptical of Mayer's tenure: as WSJ puts it, "the hefty pay out comes despite Ms. Mayer’s inability to accomplish what she was hired to do five years ago: revitalize the fading internet icon following its struggles with high employee and executive turnover and declines in ad revenue."  She was lucky, though, in that just like a decade ago dumb money was rampant (who can possibly forget Microsoft's failed acquisition of YHOO), so too this time Verizon showed up and acquired Yahoo's core business— excluding some assets like its stakes in other internet companies — for $4.5 billion. That deal is expected to close in June, after months of delays following Yahoo’s disclosure of two massive security breaches.

As the WSJ adds, Yahoo shareholders will vote on the deal during a special meeting on June 8, according to a securities filing published Monday. The measure is expected to pass. As part of their severance package, Ms. Mayer and other top Yahoo executives are eligible for accelerated vesting of all stock options, restricted-stock units, and other equity-based awards outstanding when the deal closes, according to the filing.

For Ms. Mayer, that includes stock options valued at more than $84 million and restricted-stock units worth about $25 million at the current share price of $48.15. She also holds about 1.6 million Yahoo shares, worth nearly $77 million. Together, those amounts are worth $186 million at the current share price, according to the information in the filing. The figure doesn’t include salary, bonus or options she has already exercised.

To be sure, some have tried to moderate their criticism of Mayer with "supporters saying Ms. Mayer took on a steep challenge with Yahoo, but her managerial mistakes, including not cutting costs quickly enough, complicated the already tricky turnaround."

Ironically, she even couldn't sell the company correctly: Verizon initially agreed last July to buy Yahoo’s business for $4.83 billion. Then Yahoo disclosed two large security breaches, one in 2014 that hit more than 500 million accounts and another in 2013 that affected more than 1 billion accounts. Naturally, Russians were promptly blamed for the hack.

The security incidents allowed Verizon to lower the purchase price by $350 million.

In March, Yahoo’s board of directors said Ms. Mayer wouldn’t receive her 2016 cash bonus or 2017 equity awards after a board investigation found that she and other senior executives failed to “properly comprehend or investigate” the 2014 breach.

However, we are confident that with $186 million in the bank in a few months, she will be just fine.

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RockySpears's picture

  Hey!  Where'd the pic go?

 

Not as if I'm gonna read this,

 

RS

DownWithYogaPants's picture

The bossy kuunt can't even figure out how to sit in a chair and she gets a 186 million?

Oooh derpy derp which side up?  Let me see well it was me gaunch that got me my position sooooo. Schtinky side up.

Laddie's picture

She is a (((Google))) personage
http://www.mercurynews.com/2016/10/06/yahoo-ceo-marissa-mayer-led-illega...

Goyim are competition that must be stopped, it is all very understandable.
HaShem smiles on Marissa...

HowdyDoody's picture

She's wearing a nice pair of ankle bracelets.

NoDebt's picture

I always thought it was understood her real mission was to gut the company and sell it off it pieces.  How did she fail?  Oh, the shareholders lost?  Who fucking cares about shareholders?  They're the sheep you shear to get the wool is all.

 

 

Shitonya Serfs's picture

Wanna bet she's going to skip back to Google and get much more than $186MM for killing their main search competitor (by design). High fives all around. She likes the Mohel patients.

JRobby's picture

"Look at that! Another insane win in the QE - up top only liquidity sweepstakes !!!! Brought to you by The Federal Reserve and It's Owner / Member Banks !!!"

baby_tone's picture

I'm making over $7k a month working part time. I kept hearing other people tell me how much money they can make online so I decided to look into it. Well, it was all true and has totally changed my life. This is what I do... http://bit.ly/2jdTzrM

Yog Soggoth's picture

Yeah, I remember the fisrt thing she did was make it impossible to use yahoo classic email. That led me to another provider. How could someone that incompetent get a job like that without some inside backstabbers on the board. O.K. here's the plan, we get the board to hire this mole to destroy the company, then we slowly start selling shares and buy Google instead.

Thought Processor's picture

 

 

This may be the perfect example of how fucked up Corporate / Wall Street incentive systems are.  She literally created negitive value for the entire Yahoo organization, to the point where she is now lampooned within the industry.  And yet.............

 

She makes out like a bandit.  This is crazy.  

 

This should be the poster child example of a probable oputcome when an activist TRADER (Dan Loeb) gets to appoint a CEO to a trading vehicle for his own short term benefit.  Most other YAHOO shareholders not in on the scam likely got reemed.

mtl4's picture

Seems to me the last time was saw things this ridiculous was at the top of the Dot Com bubble but I have a feeling this bubble isn't quite over yet.......asset prices should go parabolic then crash hard afterwards.

Delving Eye's picture

Robert Nardella did the same thing at/to Home Depot, though not to the tune of $186 big ones.

RichardParker's picture

+1 for the Nardelli reference.

RaymondKHessel's picture

That should even the gender gap pay.

HRClinton's picture

Now we're moving from Equality to Sameness.

We're showing that women can play the same dirty games that guys do.

We've come a long way, baby. 

south40_dreams's picture

Topless pics or this story blows

onewayticket2's picture

she made 2500X more than I did last year.....my company is in great shape.  She ruined hers.

 

makes sense.

BorisTheBlade's picture

Yahoo was in trouble before her, though she damn impressively put the last nail in its coffin. I guess her previous employer mighty grateful she eliminated competition in such a convincing fashion. So, yes, it does make sense. And after proving herself in business you can bet she'll get into politics: https://upload.wikimedia.org/wikipedia/commons/c/c1/ABCNews_Pre-White_House_Correspondents%27_Dinner_Reception_Pre-Party_-_13927310340.jpg

GraveDancer's picture

Fiat currency's robber barons!

wmbz's picture

Well it's only fair, she worked night and day eight days a week to build up that company!

onewayticket2's picture

she made $88,500 per hour in addition to her salary.  ($186MM/2100 hours)

secretargentman's picture

She's not failing at all once you realize her actual mission was to loot the company. 

Peterman333's picture

Ii don't give her credit for even being smart enough to think of that.

spiral galaxy's picture

.......and be the Dem propaganda machine, promote Hollywood, brainwash women on the ideal bikini body, publish daily stories on waitress tips, publish anti white male and pro LBGT and pro minority and pro immigrant and pro Muslim etc. articles, and, of course, your daily fill on the inanities of the Kardashians. :-)

spiral galaxy's picture

.......and be the Dem propaganda machine, promote Hollywood, brainwash women on the ideal bikini body, publish daily stories on waitress tips, publish anti white male and pro LBGT and pro minority and pro immigrant and pro Muslim etc. articles, and, of course, your daily fill on the inanities of the Kardashians. :-)

Sanity Bear's picture

Let's face it, her actual mission was most likely to suck dick as a morale booster for the people who did the real work.

I couldn't enumerate a single other professional skill she may have.

medium giraffe's picture

Newsflash: fucking useless cunt is fucking useless

Bueller....Bueller's picture

And that there folks is what's fucked up in this world. She didn't do a fucking thing and gets this golden parachute. Should have been fired years ago.

Pigeon's picture

What are you talking about? She did worse than nothing.

popcorn's picture

Before you appoint a female CEO consider just selling the company right then instead , that would be my genuine advice to anyone 

GooseShtepping Moron's picture

Just burning it down would have been quicker.

1.21 jigawatts's picture

There has to be a Jew in this ridiculous equation.

Masterhit's picture

I wonder what company she will wreck next? Or maybe just use that warchest of hers to run for governor! Fuck cali

HooRAY4rSIDE's picture

She needed the money for her shoe budget. Otherwise she had no chance of competing with Imelda Marcos.

overmedicatedundersexed's picture

ju's get taken care of..right mr yellen?

oh don't look at that mr and mrs amerika..cause it's racissst er antisemitic or sumthin

silverer's picture

That's close to a dollar from each subscriber just to get rid of incompetence.

BlindMonkey's picture

This shit is why aliens won't talk to us.

Bubba Rum Das's picture

"This shit is why aliens won't talk to us."

-Seriously...

Sandmann's picture

Women Power in Berlin

 

http://www.welt.de/politik/video137195669/Jetzt-Live-Forum-mit-Angela-Me...

 

 

James Jeffrey, a senior fellow at The Washington Institute and a former deputy national security adviser and ambassador to Iraq under President Barack Obama, said Merkel is working out how to approach an atypical U.S. leader.

“Merkel is sly as a fox. The unorthodox road to this guy is Ivanka. That’s the person you go to, not the second secretary in the Embassy in Berlin,” Jeffrey said.

In this case, Merkel doesn’t have much choice: Trump has yet to appoint an ambassador to Germany (an Obama-era deputy, Kent Logsdon, is filling the role on an interim basis). She will appear on a panel about democracy with Obama next month.

http://www.politico.com/story/2017/04/24/ivanka-trump-berlin-germany-237...

 

Princess Ivanka from the Royal House of Trump in Americanaland comes to Berlin to meet Comrade Erika and show the world the Power of Trump

Sandmann's picture

Failure pays Big Dollars

Pigeon's picture

Marissa Meyer. Elizabeth Holmes. Carly Fiorina. Silicon Valley's affirmative action choices.

Bubba Rum Das's picture

"Marissa Meyer. Elizabeth Holmes. Carly Fiorina. Silicon Valley's affirmative action choices."

Yes indeedy doo; some of the most competent women in the corporate world-

-Seriously.

scoutshonor's picture

Marissa Mayer...Paris Hilton, I get those two mixed up.

bmccic's picture

Marissa can fold back her teeth...