Marissa Mayer may be the captain of Silicon Valley’s version of the Titanic, but that doesn’t mean she’s going to drown with her angry shareholders and discarded Yahoo verticals. Instead, she’ll be rolling around in nearly $55 million worth of cash, stock options, and other assorted benefits.
According to a regulatory filing posted on Friday, Mayer and other top Yahoo executives stand to receive handsome severance packages should they get fired —not out of the question given the high likelihood that Yahoo will sell itself soon.
The filing shows Mayer would receive $3 million in cash, $15,000 in outplacement benefits, $26,324 in health benefits, and nearly $52 million in stocks and options. The next biggest payout listed is for chief revenue office Lisa Utzschneider, who would pocket nearly $20 million. (That would be in addition to her $16 million in stocks.)
While massive, bloated payouts are not uncommon for high-level executives at large companies, Mayer’s would likely ruffle some feathers, because the company she was put in charge of has largely gone to shit.
“I don’t think this management team has done anything to merit a huge payout,” Eric Jackson, a Yahoo shareholder who hasn’t been the biggest fan of Mayer, told the Associated Press. If fact, Mayer has spent Yahoo’s flailing revenue quite visibly, shelling out on startups, Tumblr, and Katie Couric. (But not Couric’s Tumblr, unfortunately.)
As for the $55 million, it’s anyone’s guess what Mayer will spend it on, but here’s hoping it’s a few more Zamboni rides.