Yahoo’s CEO Marissa Mayer will take home a US$55 million severance package if the company’s auction of its Internet operations makes a sale and she loses her job.
A regulatory filing shows the payout would consist of cash, stock awards and other benefits if she is forced out within a year after a sale.
Although Yahoo’s board is still evaluating takeover offers, many investors are betting that the company will decide to sell its well-known brand and Internet businesses, including its e-mail service and news sections focused on sports and finance.
Mayer, a former Google executive, has failed to turn the company around and its long-running slump has deepened during her reign. Last year she received a compensation package valued at nearly $36 million.
