Yahoo CEO Marissa Mayer, who failed to turn around the struggling internet company during her five years at the helm, will receive a payout worth $112 million when the company’s sale to Verizon closes, according to a regulatory filing.
Google rose to dominance in search, while Facebook became a social-media powerhouse, both of them raking in digital-advertising dollars at Yahoo’s expense.
digital ad revenue grew from $17 billion in 2013 to $29 billion in 2016, and Facebook’s grew from $3 billion to $12 billion, Yahoo saw its take drop from $2.5 billion to $2.3 billion, according to research firm eMarketer.
It wasn’t until last year that major events of 2013 and 2014 were brought to public light: hackers had broken into Yahoo’s systems and committed the two largest thefts of internet users’ data in history.
Yahoo’s board faulted Mayer for the 2014 hack, because senior company executives knew it happened that year but failed to properly investigate it, and they stripped her of $12 million from her 2016 and 2017 compensation.