Yahoo Takeover By Verizon Closes… Mayer Resigns With Millions In Her Purse

It’s official. Yahoo has been swallowed up by Verizon, and as part of that Marissa Mayer is leaving her post as CEO of what used to be called Yahoo. But is now called Oath which is now run by Tim Armstrong, former chief executive of AOL. Mayer posted a Tumblr post with her thoughts on her departure:

Looking back on my time at Yahoo, we have confronted seemingly insurmountable business challenges, along with many surprise twists and turns. I’ve seen our teams navigate these hurdles and mountains in ways that have not only made Yahoo a better company, but also made all of us far stronger. During these past 5 years, we’ve built products that delight our users, focused on our clients’ businesses, driven substantial value for our shareholders, and endeavored to make Yahoo the absolute best place to work. I want to take a moment to remind you of some of our many achievements together. They are remarkable, and we should all be very proud.

Chances are that she won’t have to look for a job for a little while. I say that because she pocketed $23 million in severance which is not exactly chump change. Nor is the fact that if you factor in her stock holdings in what used to be called Yahoo, she leaves with $236 million according to CNN. Not bad considering what a gong show Yahoo has been over the last few years with failed attempts to make itself relevant again, and getting pwned by hackers multiple times. I wish I could fail like that and get that sort of payday.

 

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