Yahoo CEO to Receive $23 Million Golden Parachute

By Marcos Colon

The internet giant’s top executive who took on the position in the summer of 2012, is expected to receive more than $23 million in cash and stock, according to a proxy statement sent to shareholders that seeks approval for the impending acquisition of the company by Verizon.

After Yahoo disclosed the data breaches, Verizon updated its acquisition terms, which resulting in a deal that was $350 million less than what was originally presented.

Following the disclosure of the first breach, Mayer was immediately on the hot seat after lawmakers demanded answers tied to the cybersecurity incident. According to results of an internal investigation tied to the company’s 2014 data breach, Yahoo’s security team failed to investigate the incident properly.

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