Steve Kovach March 01, 2017 at 02:08PM
Yahoo CEO Marissa Mayer will turn down her annual bonus and equity grants following revelations of major hacks at Yahoo.
Mayer said the payments will go to Yahoo's employees instead.
Here's the statement Mayer made on her blog on Wednesday:
"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."
The hacks at Yahoo caused Verizon to lower its offer to buy Yahoo by about $250 million. The sale is expected to close this spring.
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Marissa Mayer is giving up her bonus and equity grants following major hacks at Yahoo (YHOO, VZ) from Business Insider: Steve Kovach
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