Marissa Mayer Likely Getting $23M Severance

According to new filing cited by CNNMoney
By Evann Gastaldo,  Newser Staff
Posted Mar 13, 2017 4:25 PM CDT
Marissa Mayer Likely Getting $23M Parachute
In this Thursday, Feb. 19, 2015, file photo, Yahoo President and CEO Marissa Mayer delivers the keynote address at the first-ever Yahoo Mobile Developer Conference, in San Francisco.   (AP Photo/Eric Risberg, File)

When Yahoo's sale to Verizon is complete, Marissa Mayer will likely walk away with a $23 million severance package, CNNMoney reports, citing a company filing. The package is contingent on the sale and on Mayer, who will lose her job as Yahoo's CEO, being terminated without cause. It's not clear if Mayer will have any role with the former Yahoo's core Internet properties after they are purchased by Verizon. As for what remains of Yahoo itself, it will be renamed Altaba and "will effectively be an investment company for its Alibaba holdings," per CNN. Current Yahoo board member Thomas McInerney will take over from Mayer as CEO of that company. (Read more Marissa Mayer stories.)

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