Thursday, January 15, 2009

New Yahoo CEO gets pay package worth at least $19M

By Associated Press

SUNNYVALE, Calif. (AP) -- Yahoo is paying a $1 million salary to new CEO Carol Bartz and awarding her at least $18 million more in cash and stock during her first year in the job. Bartz also will receive 5 million stock options that could yield a huge windfall if Yahoo's slumping shares rebound.

The details of Bartz's compensation package were outlined in a regulatory filing Thursday. Yahoo hired Bartz, 60, as its new CEO this week.

The biggest chunk of Bartz's pay this year will consist of $2.5 million in cash and $7.5 million in restricted stock to cover benefits and stock options she is surrendering at her former employer, Autodesk. She also is scheduled to receive an $8 million stock grant next month.

Copyright 2009 The Associated Press.