New Yahoo (Nasdaq: YHOO) CEO Marissa Mayer could receive as much as $100 million in total compensation in the next five years if she succeeds in turning around the company, Yahoo disclosed late Thursday.
Mayer, 37, was elected CEO and a director of the Sunnyvale, Calif., company on Tuesday. Her pay was disclosed in a filing with the U.S. Securities and Exchange Commission.
Her annual pay will be $1 million, plus a bonus up to 400 percent of that if she meets specific targets set by the board, the company said. This year and next, Mayer will receive two annual equity awards of $6 million. Through 2017, the new CEO will receive $30 million in "retention equity," provided she meets certain targets.
Because she left Google (Nasdaq: GOOG), where she was a vice president with stock options, Mayer was awarded $14 million to make up for whatever she lost at the No. 1 search company, the filing said. Yahoo will also give her 20 days' annual vacation and pay legal fees incurred in negotiating her contract. Still, her new contract said she can be terminated "at will." Her immediate predecessor, Scott Thompson, resigned as CEO in May after a scandal involving reporting college degrees he didn't have.
Carol Bartz, who was Yahoo CEO from 2009 until last September, was fired.
Yahoo shares rose 12 cents to $15.85 in Friday trading.
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