San Francisco, CA, United States (4E) – Internet firm Yahoo! Inc. reported that it paid $36.6mn in total compensation for Chief Executive Marissa Mayer as she works to turn around the company’s fortunes.
The California-based web company paid the former Google executive $454,862 in salary, $1.12mn in bonuses and $35mn in equity awards, according to a proxy filing before the company’s annual shareholder meeting slated in June.
The share price of the largest U.S. web portal has climbed 24 per cent this year, as investors showed confidence to Ms Mayer’s efforts to revive the company and saw prospects of a payout from the company’s investment in Chinese e-commerce firm Alibaba.
Ms Mayer was named CEO in July after a several changes in management and board of directors. Her focus has been on recruitment and talent retention, and on new products that will make Yahoo a stronger competitor to rivals Google Inc. and Facebook Inc.
The filing also added that while the company wants to recruit talent necessary to reverse its stagnation, it is also implementing changes specifically raised by shareholders. Among those changes include the removal of a 50 per cent minimum funding level for bonuses.
For this year, half of the stock awards for executives will depend on performance.