Yahoo CEO Marissa Mayer Loses Bonus And Stock Award Over Security Breach
gpbnews.org
gpbnews.org
"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."
So does that mean no one pushed it up the chain
I never heard of an executive being pushed to earn less money the way executives are pushed to resign.
Usually is quite the opposite, companies pay resigning executives a wealth sum as it is in the best interest of the company that the burned executive leave as soon as possible and with no intentions to harm the company after leaving. The board usually couldnt care less about the money a leaving executive gets.
An executive leaving money on the table (and distributing among other employees) is extremely rare and I think your cynism have no logical thinking support here.
You mean 0.35 billion?
It's risen in popularity since the subprime mortgage crisis. Used more often to claw back bonuses for fraud, but used for lackluster performance as well.
Voluntarily forgoing your bonus versus an embarrassing board decision isn't that odd.
When C level executives are involved in a scandal, this is exactly what happens. The folks above them "ask" for their resignation. The subtext is that it is mandatory. Resigning keeps them from the disgrace of being fired and also often allows them to keep certain things like bonuses, pensions etc.
Cheers.
If you have something to say, say it.
In a forum with participants from a plurality of nations, and various states of wakefulness, sarcasm is going to be missed by someone.
Additionally, it doesn't add anything to the conversation that several sibling comments haven't already stated in a clearer fashion.
Public information on these bonuses shocked me, to be frank. Ok, you took a hard job, but you also failed. A culture that rewards upper management - even on failures - is a recipe for failure, especially when you employ a large portion of talented and educated individuals who can very easily move somewhere else.
These Yahoo's don't have a clue.
But that's the point. What motivation does she have to do a good job and actually care about the well-being of the company if she gets extraordinary sums of money no matter what?
This is generally how I go about negotiating my salary.
The incentives for CEOs at today's ridiculous pay grades are all towards short-termism. That's how we get into messes like this in the first place.
That's a pretty weak criticism of Marissa Mayer. First, she was hardly set up for success - a first-time CEO placed at the helm of a company that had been struggling for years to find its market, and whose two predecessors were both fired in very public scandals. I'm not sure if anyone could have turned Yahoo around in those circumstances.
Furthermore, Mayer was not at all incentivized towards short term thinking. Yahoo's share price was largely driven by Alibaba from when she joined until the IPO, and it was literally one of the selling points used to recruit her: that she, unlike most CEOs of public companies, would be able to focus on executing a long-term vision without the pressures of worrying about the daily share price for the first couple of years (until the Alibaba IPO).
I don't believe the OP was criticizing her but rather the exclusive "CEO Club" where their compensation is 2200 times[1] what their average employees get paid, recieve bonuses in bad or unprofitable years, always get to resign and never fired, and if they do resign in a cloud of scandal they magically show up somewhere else and repeat the whole process anew.
In the case of Bill Gates for example, I rarely see anyone using "Gates", the full name "Bill Gates" is used.
Most people I know (which is mainly people from Western states) would refer to her as Marissa Mayer, and the same with any other well-known executive (e.g. Elon Musk, Richard Branson, Sheryl Sandberg, Mark Zuckerberg, etc.) How would you expect her to be named in conversation based on where you're from?
And quite a few Hackers seem to be on a first name basis with Elon and Linus.
Eh, I'm not sure I would agree with that.
> And quite a few Hackers seem to be on a first name basis with Elon and Linus.
They have fairly unique names. It's extremely unlikely that "Elon" and "Linus" would refer to anyone other than Musk and Torvalds in the context of HN discussions.
Definitely not the case for names like "Mark", "Bill", or "Steve".
A few examples come to mind: Steve Jobs, Larry Ellison, Bill Gates.
And to say nobody would use initials here, what about PG himself?
Marrisa Ann Mayer / MAM may not have dealt the final blow to the already injured Yahoo but she added a few stab wounds and drew from the dwindling fortunes of an elderly Yahoo.
https://news.ycombinator.com/item?id=13386349
I still don't have my flickr account.
Here's the response from Yahoo Concierge: https://imgur.com/a/smjuL
The employees at Yahoo have been kind and helpful to me. But the bureaucracy is a rotted waste who just doesn't care.
What am I supposed to do? Why can't you just allow accepting verification documentation like FB and Blizzard does.
The engineers are great. The managers are great. But the rotten core would screw over tens of thousands of people locked out of their account so as to not make one mistake with an identity theft.
How can I be sure my account wasn't one of the ones hacked in one of their many security fiascos?
I'm just exhausted.
- Picture of me with my driver's license (which has logins from the area)
- Sworn oath under penalty of perjury
- Proof photos in my public account are linked to me (I have pics of a laptop with an xmonad config open which is the same as my GH) https://farm3.staticflickr.com/2741/4437425032_a059639217_o_... == https://github.com/tony/xmonad-config/blob/master/xmonad
How do you expect them to verify that documentation without having it on file already?
After they've been hacked, how can I be sure that my info wasn't changed? What about with flickr had transitions, was any identifying on the accounts lost?
The photos I have can be matched to other public information I have on the net. I've provided those details already.
My name is on the account.
I was a flickr pro customer. I could give them my billing info of CC's I had around the time.
Blizzard doesn't keep driver's licenses on file before hand, but they use it to prove identity.
My point was mostly that this is silly.
I reset my battle.net account with a fake that took less than 15 minutes to make.