Business

Marissa Mayer to leave Yahoo with $184m payout

Marissa Mayer Image copyright AFP
Image caption Marissa Mayer, chief executive of Yahoo

Yahoo's chief executive, Marissa Mayer, will be paid $184m when the sale of her company to Verizon completes this year.

The huge sum - a combination of various payments - is detailed in a 429-page document lodged with the US Securities and Investment Commission (SEC).

The money includes the value of shares already owned, outstanding share options, a "golden parachute" payment, cash payments and medical benefits.

Yahoo investors are being asked to vote on the deal this June.

The total payments to Ms Mayer are far higher than the company first acknowledged last month when it explained that she would be entitled to the "golden parachute" payment for losing her job.

Ms Mayer will leave the company when the sale goes through.

The deal with Verizon was first announced last year when the struggling company agreed to sell its main internet business to Verizon, the huge US telecoms company, for $4.8bn.

That figure was later cut to $4.5bn after the company disclosed last autumn that it had been the victim, in 2013 and 2014, of two huge security breaches, the second of which affected the accounts of more than a billion customer accounts.

Earlier this month, Verizon said it would combine its AOL subsidiary and Yahoo into a new business called Oath.

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