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Marissa Mayer could earn US$55m in severance package

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Nobody is happy to be fired from a his or her job, but in the case for Yahoo CEO Marissa Mayer, there might just be a silver lining.

According to a regulatory filing posted last Friday, Mayer and other top Yahoo executives stand to receive handsome severance packages should they get fired

She will receive $54.9 million in severance pay if she loses her job in the sale of the company.  The compensation includes a package of cash, stock and other benefits.

In 2015, the 40-year-old executive hauled in $36 million, a 15%  drop from $42 million in 2014.

Mayer’s drop in compensation is because of the decline in Yahoo’s stock price, since she receives stock awards and options as part of her pay, her salary fell by $6 million according to Bloomberg, which based its report on a Yahoo regulatory filing.

“The CEO’s compensation also declined because the company failed to meet key financial goals last year, according to the filing,” the report said.

After the compensation package for Mayer was reported, SpringOwl Asset Management’s Eric Jackson who had long hope for Mayer to be fired, quickly voiced out his displeasure over the decision.  “I don’t think this management team has done anything to merit a huge payout,” he said.

Other executives will also receive big severance packages in the event of a sale. The company’s chief financial officer, Ken Goldman, would receive more than $16.1m, and chief revenue officer Lisa Utzschneider would net $19.9m.

ALSO READ: Yahoo to lay off around 1,700 employees

Image: Shutterstock



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