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Marissa Mayer will earn a basic annual salary of $1 million USD as the latest CEO of Yahoo.
An SEC filing by the one-time search leader has revealed that Mayer, a former exec and the first female software engineer of Google, will receive one million dollars plus bonuses. Her compensation might even total to more than $10 million if she will pull off a somewhat insurmountable feat to turn Yahoo’s downward spiral around.
On Tuesday, Yahoo chose Mayer from a shortlist of several capable candidates to become the new CEO and president.
The Securities and Exchange Commission filing discloses that apart from her $1 million annual salary, Mayer will be entitled for an annual bonus of a “target amount of 200 per cent of base salary”, which depends on her overall performance and the company’s development.
It adds that she will also get $12 million in stock as an equity award for 2012, together with eligibility for stock grants every year that she sits as CEO.
Mayer recently resigned from Google, where she became the 20th employee in 1999, to work for Yahoo. She was responsible for several successful products with the current online search leader, but her most notable work was Google’s simple, stripped-down homepage. She recently worked as VP of Location and Local Services at Google, helping the company develop products such as Google Earth, Street View and Local Search.
When Yahoo earlier this week announced her appointment as the new CEO, Mayer answered the press that she was “honored and delighted” to take the position.
“I look forward to working with the Company’s dedicated employees to bring innovative products, content, and personalized experiences to users and advertisers all around the world,” she said.
Analysts, however, are still skeptical if Mayer is the right person who can turn around Yahoo since she only handled divisions in Google, rather than company-wide management.
Marissa Mayer is the fifth CEO Yahoo has inducted in less than a year.
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