Yahoo CEO Marissa Mayer will walk away with a $55 million severance package if the company’s auction of its internet operations culminates in a sale that ousts her from her job.
The payout disclosed in a regulatory filing Friday consists of cash, stock awards and other benefits that Mayer would get should she be forced out as CEO within a year after a sale.
Although yahoo’s board is still evaluating takeover offers, most investors are betting that the company will decide to sell its well-known brand and an Internet business that includes a popular email service and sections focused on sports and finance.
Mayer, a former Google executive, has been unsuccessfully trying to turn around Yahoo for nearly four years. Instead, Yahoo’s long-running slump has deepened during her reign, making her pay a prickly topic among investors.
“I don’t think this management team has done anything to merit a huge payout,” said Eric Jackson, managing director of SpringOwl Asset Management, a Yahoo shareholder critical of Mayer’s leadership.