YAHOO’S NEW COO ECLIPSES MAYER IN PAY

San Francisco, May 1: Yahoo CEO Marissa Mayer emerged as the internet company’s second highest paid executive during her first five-and-half months on the job.

Regulatory documents filed Tuesday revealed that Mayer received a pay package valued at $36.6 million last year. Most of the compensation consisted of stock awards that Mayer got in July when she ended a 13-year stint as a top Google executive to become Yahoo’s CEO.

Most of the components of Mayer’s pay had been previously disclosed.

It wasn’t previously known that Mayer ranked second on Yahoo Inc.’s pay scale last year.

Mr Henrique de Castro, another former Google Inc. executive who became Yahoo’s chief operating officer in November, eclipsed Mayer with a compensation package valued at $39.2 million.

Like Ms Mayer, most of Mr de Castro’s pay is linked to long-term stock incentives that could be worth more or less depending on how Yahoo’s stock performs during the next few years.

Yahoo’s stock has surged by nearly 60 per cent since Ms Mayer became CEO, largely because of the rising value of the company’s holdings in rapidly growing Alibaba Group, a Chinese internet company. Investors also have been encouraged by improvements that Ms Mayer, 37, has been making to Yahoo’s online services and mobile applications as part of her strategy to attract more traffic and sell more advertising.

When Yahoo lured Ms Mayer away from her top job at Google, she received a package valued at more than $59 million. A major chunk the payments were granted in 2012. — AP