New Yahoo CEO to get $70mln pay package

PanARMENIAN.Net - New Yahoo Chief Executive Marissa Mayer's compensation package could total more than $70 million in salary, bonuses, restricted stock and stock options over five years, according to a regulatory filing made by the company.

Reuters reports that Mayer's pay package is made up of $1 million in annual salary, as much as $2 million in an annual bonus, and $42 million in stock options and other awards, as well as $14 million in "make whole restricted options" for forfeiture of compensation from Google Inc.

Also, by including some stock grants, Mayer could earn up to a total of $20 million a year, or up to $100 million over five years, a Yahoo spokeswoman said.

As the first female Google engineer and one of its earliest employees, Mayer's net worth is already estimated to be as much as $300 million.

Yahoo's hiring of Mayer as CEO from Google earlier this week caught analysts and investors by surprise. Mayer, 37, edged out presumed front-runner and acting CEO Ross Levinsohn to become Yahoo's third CEO in a year.

Industry observers believe Mayer's selection over Levinsohn is a signal that Yahoo is likely to renew its focus on Web technology and products rather than beefing up online content.