Yahoo’s New CEO Will Make $27 Million A Year
Looking at the latest pay package announced for incoming Yahoo CEO, Scott Thompson, I am glad I am not a part of the horde of people who help line the pockets of that company. Now, don’t get me wrong, I don’t begrudge Thompson of the $27 million or so he stands to gain from taking the job, but the given the struggles Yahoo has been having, where’s the modesty?
According to the release, Thompson will receive $1 million as a base salary for his efforts. If he manages to get Yahoo out of the quagmire it is in, he’ll receive another $2 million per year. If it turns out he’s just as bad as Carol Bartz (last CEO), he’ll still make some money, but only $500,000. Yes, you read that correctly, Yahoo will pay someone a bonus just for being very bad at their job. Is there any wonder then that Yahoo is a crap company, with meager profits struggling to stay alive? Again I say, “I don’t help to feed that machine”.
Thompson’s golden handshake doesn’t end there of course, and he’ll also get a stock grant worth $11 million; a one-time inducement grant worth $5 million and a slew of other benefits that round out his final compensation to the princely sum of $27 million.
Yes folks, welcome to the world of tech, where friends look after friends and idiotic consumers keep feeding the corporate machine.