It’s no secret it was a very bad year for Yahoo back in 2016. With he massive data hack, the CEO of yahoo, Marissa Mayer, decided that she will relinquish both of her bonus’ and her equity grant to employees due to the security problems. She was quoted saying, “As those who follow Yahoo know, in late 2014, we were the victim of a state-sponsored attack and reported it to law enforcement as well as to the 26 users that we understood were impacted. When I learned in September 2016 that a large number of our user database files had been stolen, I worked with the team to disclose the incident to users, regulators, and government agencies. However, I am the CEO of the company and since this incident happened during my tenure, I have agreed to forgo my annual bonus and my annual equity grant this year and have expressed my desire that my bonus be redistributed to our company’s hardworking employees, who contributed so much to Yahoo’s success in 2016,” via her blog.
It is also known that her decision was also officially included in the company’s filing. The appropriate documents reflected her decision as well, so this wasn’t just talk, it is actually happening. This past year wasn’t the only time Yahoo had issues with security. Just back in 2014, the company reported that 500 million user accounts were in fact hacked. The company failed to report that in 2013, that more than one billion user accounts had been robed. The company refused to provide any reasons, answers, or even responsibility. This may have been due to legal reasons, but still, they never even commented on the matter.
The SEC filing did not exactly disclose just how much Mayer’s bonus and annual equity grant would amount to, however, allegedly, she was eligible for a $2 million bonus, as well as a $40 million stock grant back in the year 2015. It’s fairly safe to bet that those figures wouldn’t be too far off from the year before last. Forbes says that Mayer’s has an estimated worth of $430 million, so this is a cake walk for her.
What do you think about the several breaches in yahoo’s security? Do you have a yahoo account? Would you want to keep one after this? Do you think Mayer is doing the right thing, or should she be giving more? Don’t forget to like, comment, and share!