According to the filing, Mayer would receive a severance package worth about $23 million if her job is terminated within a year of the sale. But that shouldn't come as much of a surprise. However, we are learning today that once Mayer steps down following the close of the deal with Verizon, she will be floating back to earth with a pretty snazzy golden parachute.
The new company formed out of Yahoo, Altaba, will be led by Thomas McInerney, the former CFO of IAC.
After the sale, Yahoo will become Altaba, managing assets in Chinese e-commerce giant Alibaba and Yahoo Japan, along with some non-core patents not included in the Verizon sale.
Earlier this month, Mayer announced she would oh-so-bravely give up this year's bonus and equity grant due to Yahoo's embarrassing security fuck-ups.
Despite the controversy from the hacks, Verizon's acquisition of Yahoo's one billion monthly active users puts it in prime position to build an online advertising powerhouse to rival Google and Facebook. As of last May, she was estimated to receive a $55 million severance package if she was sacked after the sale, according to Variety.