In an SEC filing yesterday (see here), Yahoo! disclosed that the salary of Terry Semel, its CEO, will now be $1 per year (it had been $600,000). Hence, Semel joins Schmidt, Brin and Page of Google (see here) with a $1 salary. The big difference between Semel and the Google guys though is that in connection with his salary cut Semel was issued a seven-year stock option to purchase 6 million shares of Yahoo! at $31.59 (the closing price on the date of grant). Conversely, the Google guys got nothing.
Yahoo! CEO Joins $1 Club
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June 3, 2006
Yahoo CEO Pay Takes a Dive…
Is Yahoo Chairman and CEO Terry Semel screaming Yahoo? Yahoo Inc. “YHOO” announced yesterday that its board of directors has reduced Semel’s annual salary from $600,000 to $1. Yes, rub your eyes and do a double take – it says $1,……Loading...