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Exit Stage Rich: Marissa Mayer Takes Her $186M and Bids Farewell to Yahoo
Verizon’s $4.48-billion deal to acquire Yahoo officially closed on Tuesday morning, which means that Marissa Mayer’s disappointing run as CEO of the internet pioneer also came to a close.
But lest we shed a tear for Mayer, keep in mind that the former Google star is being very, very well compensated as she walks out the door. Mayer’s official golden parachute is $23 million, but her compensation from the Verizon deal is pegged at roughly $186 million.
Mayer took to Tumblr on Tuesday morning – the platform, it should be noted, for which Yahoo (under Mayer’s leadership) wasted $1 billion on – to bid farewell to the employees at Yahoo.
It’s been my great honor and privilege to be a part of this team for the last 5 years. Together, we have rebuilt, reinvented, strengthened, and modernized our products, our business, and our company.
Looking back on my time at Yahoo, we have confronted seemingly insurmountable business challenges, along with many surprise twists and turns. I’ve seen our teams navigate these hurdles and mountains in ways that have not only made Yahoo a better company, but also made all of us far stronger. During these past 5 years, we’ve built products that delight our users, focused on our clients’ businesses, driven substantial value for our shareholders, and endeavored to make Yahoo the absolute best place to work.
Mayer includes three bullet-point lists in which she points out accomplishments Yahoo has accomplished during her tenure for users, advertisers and shareholders. Although she notes in her letter that she wanted to “remind you of some of our many achievements together,” a more cynical reading of all this would be that Mayer is buffering her legacy on her way out the door, while responding to all her critics (ahem) who have deemed her tenure as CEO a failure.
You can read Mayer’s full letter here.
Photo: JD Lasica