As I am looking at my life, it is clear that I just dey zuzu. $56.8million – that’s how much Marissa Mayer is set to earn in severance pay should Verizon choose to fire her following their purchase of the former internet juggernaut Yahoo!
So when Naija pipo dey say fraud or fastness na “Yahoo yahoo”, clearly we were seeing vision with that saying.
Watch the CNN video here:
The sale completes Yahoo’s evolution from influential search pioneer and web portal juggernaut to, in the end, a once-dominant brand that lost its way.
Parties as diverse as Warren Buffett and The Daily Mail were interested in buying Yahoo. But after a sale process that dragged on for months, Verizon (Tech30), long viewed as the frontrunner, is walking away with Yahoo’s more than one billion monthly active users.,
Current Yahoo shareholders will keep the company’s lucrative investments in Chinese e-commerce giant Alibaba and Yahoo Japan. They will be spun into a separate, yet-to-be-named, publicly traded company. The deal also excludes some patents and Yahoo’s cash.
The Verizon deal must be approved by regulators and is expected to be finalised in the first quarter of 2017.
Whatever happens, it seems clear to me that Marissa Mayer, Yahoo’s CEO, is the clear winner in this deal. The woman has gone from cheque to cheque while at the helm of affairs at Yahoo, and even now, it would seem that the big bucks may well still roll in.
If Mayer steps down — which is still an uncertainty — she’ll be due about $57 million in severance after Verizon takes over the company, according to Equilar. That’s expected to happen in the first quarter of 2017.
Her enormous golden parachute would come on top of more than $162 million in salary and stock awards that Mayer received over the course of her tenure. All told, she could exit Yahoo with around $219 million in the bank.
So, it turns out Marissa Mayer was the biggest Yahoo Yahoo of them all!
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