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Tue Mar 14, 2017, 04:02 PM

Yahoos New Male CEO Will Get Twice Marissa Mayers Salary

Source: NBC

The guy hired to run what's left of Yahoo after it imploded under Marissa Mayer will get twice her salary, according to a new filing.

The company named board member Thomas McInerney, 52, as the head of its new spinoff company, Altaba. McInerney, former CFO at IAC media company - which owns brands such as Tinder, OKCupid, and the Princeton Review - is to get a $2 million base pay, the company announced in an SEC filing Monday.

Mayer isn't going entirely gently into the good night, she'll get a $23 million golden parachute, as well as around $57 million in stock options.



Read more: http://www.nbcnews.com/tech/internet/yahoo-s-new-male-ceo-will-get-twice-marissa-mayer-n733231?cid=sm_npd_nn_tw_ma



I wish I could say I'm surprised but I'm not.

17 replies, 3034 views

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Response to NWCorona (Original post)

Tue Mar 14, 2017, 04:05 PM

1. Mayer was a moron....

The modern equivalent to Carly Fiorina (in another words incompetent and inept), good riddance. I certainly understand why they have to pay extra to get that mess 'fixed' by the next person.

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Response to physioex (Reply #1)

Tue Mar 14, 2017, 04:11 PM

2. Yes but find it odd that you would compare her to another woman

A bad CEO is a bad CEO. Gender has nothing to do with it. I've seen plenty of companies brought to the brink and rarely does the replacement get double. Besides it's not like yahoo was at its peak before Mayer came on. It was on a downward slope well before that.

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Response to physioex (Reply #1)

Tue Mar 14, 2017, 04:37 PM

4. I wouldn't compare her to Carly Fiorina

 

Carly Fiorina was just a fraud, Marissa Mayer was highly accomplished in her field but took on a role she had neither the hard or soft skills for because she just got a little too invested in her own celebrity.

Salvaging Yahoo was a job for someone like Jay Walker, not a software developer with no social skills.

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Response to Sen. Walter Sobchak (Reply #4)

Wed Mar 15, 2017, 11:15 AM

16. I wouldn't say she is highly accomplished- She sure did climb the ladder fast

 

I guess being pretty didn't hurt her any...

2 years software developer, then 1 year product manager, the a director for web services for 2 years then a VP for 6 years...

Then- a 5 year stint on the board of directors for WalMart



I have twice as many connections as her on Linkedin LOL, 2 connections away

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Response to NWCorona (Original post)

Tue Mar 14, 2017, 04:30 PM

3. But the wealthy need more tax cuts, right?

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Response to NWCorona (Original post)

Tue Mar 14, 2017, 05:18 PM

5. Does he have a comparable parachute or is it less than what she got? If it's a

greatly reduced parachute then I could understand a higher salary but if not then I wonder what he brings that makes him worth more other than having testicles.

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Response to cstanleytech (Reply #5)

Tue Mar 14, 2017, 10:49 PM

9. Perhaps it's because his job is riskier.

He has to take the rubble and do what he can with it. The company's demoralized and in distress.

Moreover, his stay there may be short. If he doesn't succeed, and it's unlikely anybody could, he'll be gone. He probably had to be bribed to come on over; if he succeeds, he'll cash in.

His job is harder than hers and is unstable. Both lead to bigger compensation packages.

(Then there's the matter of how his compensation is structured.)

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Response to Igel (Reply #9)

Tue Mar 14, 2017, 11:05 PM

11. Wouldn't a comparable wage to hers with a stock options as a bonus based on performance

have worked just as well?

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Response to NWCorona (Original post)

Tue Mar 14, 2017, 05:45 PM

6. Mayers was shit anyway, and should be sent away with nothing

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Response to NWCorona (Original post)

Tue Mar 14, 2017, 06:22 PM

7. What does this have to do with gender?

I have tremendous respect for Mayer's technical skills, accomplishments, and brilliant innovations. She holds several patents. I was rooting for her to succeed when she started at Yahoo and hoped she would turn it around. But she was not a very good CEO and Yahoo did not do well under her leadership.

It's also a very different sort of company now. The investment in Alibaba is worth more than the company's own businesses. McInerney has decades more experience in finance and investment management. Altaba is more investment company than tech company.

There is a hell of a lot of sexism and discrimination in the business/tech world but this isn't it.

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Response to IronLionZion (Reply #7)

Tue Mar 14, 2017, 10:27 PM

8. so is yahoo just stupid? if doing a good job required double Mayer's salary, why didn't they either

 

pay her that from the beginning, or hire somebody better who was worth that much? why the sudden change? sometimes where there's smoke there's fire.

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Response to TheFrenchRazor (Reply #8)

Tue Mar 14, 2017, 11:02 PM

10. Mayer had just turned 37 when she became Yahoo CEO

her experience as a developer and product manager was kick ass and revolutionary, but her experience as a VP at Google was bad enough to get a demotion. A quick search pulls up tons of criticism of her management decisions at Yahoo and their board voted against giving her bonuses for the last 2 years. They had massive cyber attacks and data breaches on her watch and a bad deal when Verizon acquired a sizable portion of their assets.

Who knows what Yahoo was thinking when they hired her as CEO? They needed help and she had great product ideas at their biggest competitor. They were in bad shape and wanted someone revolutionary to turn them around. I liked her initial approach to develop new mobile apps and I've used many of them. The problem was never her technical skills or product ideas.

This article outlines a lot about the company's current situation http://venturebeat.com/2017/03/13/yahoo-hires-iac-exec-thomas-mcinerney-to-lead-altaba/


Having a CFO at the helm of this fledgling company overseeing investment decisions could be advantageous, especially since he’s someone with experience of Yahoo’s organization — McInerney has been on the board since 2012. For seven years, he’s been a CFO at IAC/InterActiveCorp, which is essentially a holding company with over 150 brands worldwide. Prior to that, he was a chief executive for IAC’s retailing division and also worked at Ticketmaster Online-CitySearch as CFO. It could be that Yahoo’s board felt that this expertise in being able to manage multiple businesses within one entity was very appealing.


McInerney sounds like a solid choice for where they are now. And it's not because he's a male. This article predicted it a year ago http://www.recode.net/2016/7/25/12270150/investors-meet-tom-mcinerney-the-director-who-is-really-running-yahoo-now

Did anyone notice that they're both white? Or nobody cares about the deep racial inequalities in the tech/business world?

I personally wanted her to succeed and invested in Yahoo after hearing she was the new CEO. I was disappointed in some of her management decisions.

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Response to NWCorona (Original post)

Tue Mar 14, 2017, 11:23 PM

12. Wallstreet rewards failed CEOs who have destroyed a company.

Marissa Mayers should get the boot with zero compensation.

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Response to NWCorona (Original post)

Wed Mar 15, 2017, 04:57 AM

13. Is this CEO competent? n/t

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Response to NWCorona (Original post)

Wed Mar 15, 2017, 05:06 AM

14. You've got to be kidding with this shit

She made 219 million in four years there.*



*and that's a conservative estimate. Other sources have it much higher.

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Response to NWCorona (Original post)

Wed Mar 15, 2017, 08:20 AM

15. It is almost consistant

The previous person were also paid less according to the pay chart history. One asian ceo even took zero base pay.

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Response to NWCorona (Original post)

Wed Mar 15, 2017, 11:46 AM

17. in order to earn that, he'll have to destroy shareholder value twice as fast nt

 

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