Yahoo chief revenue officer was lured with $18 million package

Yahoo’s job offer letter to chief revenue officer Lisa Utzschneider is a startling sandwich of cheese-ball corporate happy-speak wrapped around shockingly high compensation numbers. The letter, filed with Yahoo’s 2015 annual 10-K report to the Securities and Exchange Commission, was for Utzschneider’s original position in Yahoo as head of sales for the Americas. It reveals a $600,000 base salary, plus a $1 million signing bonus, plus a potential $540,000 incentive bonus, and, to cap it off, $16 million in stock over four years.

“Get ready to yodel,” the letter to Utzschneider begins, and it’s hard to imagine the hills didn’t resound with her joyous celebration. The letter closes with “Start practicing your yodel!” but there’s a reasonably good chance that Utzschneider hasn’t had much to yodel about since she received the offer letter in October 2014. Then, the company’s stock sat at around $44. On Tuesday, it closed at $32.80, and Yahoo is moving to sell its core assets.

In Recode, Kara Swisher wrote that Utzschneider’s compensation numbers were “not a surprise to those who know about the big pay packages that CEO Marissa Mayer has been forking over to keep top management from leaving over the last year, even as the company has been laying off a lot of employees.” Company sources said that “most of the senior staff has been drenched in multimillion-dollar retention packages,” according to Recode.

Yahoo on Feb. 19 announced moves toward a sale of its core assets, which make up its Internet business. However, Recode reports that one potential buyer was describing a “glacial” sell-off process, and the site also said no data room had been set up yet for would-be buyers, and there was no schedule of meetings with board members and managers involved in the process.

 

Photo: Yahoo headquarters in Sunnyvale. (Justin Sullivan/Getty Images)

 

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  • hoapres

    Ya Who ??

    You mean they still are around.

  • David McDory

    Yahoo didn’t create any new product in years, or even a decade. Once brain-dead – always brain-dead. 18 mil package is just flushing money down the drain. Regulators and shareholders should take a look what connection does Lisa Utzschneider have to those individuals who offered the deal.

 
 
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