Yahoo Inc. detailed a golden parachute of $23 million for Chief Executive Marissa Mayer as part of her planned departure from what’s left of the company after it sells its core assets to Verizon Communications Inc.
Now, that’s not quite the $58 million golden parachute she gave her old buddy Henrique De Castro for his 15 months’ work, nor the $110 million or $55 million she was supposed to get should she lose her job due to the sale of the company. Then again, at least in Marissa Mayer’s mind, she’s not actually losing her job, but gaining a new opportunity at Verizon.
Ms. Mayer’s future with the core operations that will become part of Verizon, which include its digital advertising technology and portfolio of websites like Yahoo News, hasn’t been announced. She has said she is “planning to stay.”