Yahoo's post-sale company gets a CEO

  • Yahoo's post-sale company gets a CEO

Yahoo's post-sale company gets a CEO

But that shouldn't come as much of a surprise.

In filings a year ago while Yahoo was still exploring a deal with potential buyers, the company said Ms Mayer could take home up to $55m after any deal, partly because the value of the stock soared since she took over.

Yahoo has named board director Thomas McInerney as CEO and global controller Alexi Wellman as CFO of the new company that will emerge from the sale of its core business to Verizon. Would Verizon keep her own to manage those parts of the business?

According to an SEC filing, Mayer and Goldman will step down after the sale closes.

Verizon Communications sought nearly triple the price reduction that it ultimately obtained for Yahoo's core assets following two massive cyber attacks at the internet company, according to a Yahoo filing. That's expected to happen by the end of June.

The carrier recently completed its acquisition of Yahoo, which is a deal that was announced last July for $4.83 billion. However, she will be leaving with a $23 million golden parachute.

Ms Mayer said she would forgo a bonus for 2016 of $2m and at least $12m in equity awards because executives had failed to take appropriate action under her tenure.

It's unclear if Mayer will stay on at Yahoo in any capacity after she steps down from the CEO role at Altaba - however, Mayer has said she plans to stay.

It's a sad end for Yahoo and Mayer, who has always been one of a few female CEOs of large tech companies. In order to receive her severance, according to the filing, Mayer must either be "terminated without cause" or otherwise terminate her employment with the company "for good reason".