Friday, January 6, 2012

Yahoo CEO scores $26 million pay package

He hasn't even done anything for the company yet and stands to get a vast amount. And if he fails to turnaround Yahoo he still gets millions:

Yahoo's new CEO is poised to score a rich payday for taking on the troubled company. He's eligible for up to $26 million this year in salary, stock and bonuses.

Scott Thompson, formerly the president of PayPal, was appointed Yahoo CEO on Wednesday and will officially take the helm on January 9. He will try to pull off the kind of turnaround promised by the last Yahoo (YHOO, Fortune 500) CEO, Carol Bartz, who was fired by phone in September.

Thompson will receive a base salary of $1 million for 2012. He's guaranteed a bonus of at least $1 million, and it could be as much as $2 million if he hits various performance goals.

The contract, which doesn't lock Thompson into the role for any set number of years, also awards him lucrative stock grants. Thompson will get a grant this year valued at $11 million, plus an additional $5 million grant as a one-time hiring perk.
Full article

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