Yahoo, renamed Altaba, will be led by Thomas McInerney after the sale of its web assets to Verizon for USD 4.48 billion, the company said in an SEC regulatory filing, adding that Alexi Wellman will be its CFO and DeAnn Fairfield Work its chief compliance officer. Arthur Chong will continue as general counsel and secretary.
New CEO McInerney has been a member of Yahoo’s board since April 2012. He most recently served as CFO of IAC, after earlier working as CEO of the retailing division of IAC, as CFO of Ticketmaster and at Morgan Stanley. He is currently on the boards of NSN, Interval Leisure Group, and Match Group. Wellman joined Yahoo in 2011 and has been Yahoo’s global controller since October 2015. Before that, she worked in compliance at Broadcom.
The filing revealed the salaries of the incoming executive team, with McInerney set to get USD 2 million, Chong USD 1 million, Wellman USD 500,000 and Work USD 400,000 per year, plus incentive awards and bonuses. The executives will also be eligible for grants, of up to USD 24 million, USD 12 million, USD 6 million and USD 4 million, respectively, and will lump sums should their employment be terminated.
Yahoo CEO Marissa Mayer and CFO Ken Goldman will continue in their roles until the acquisition closes. They will then step down, with Mayer receiving a USD 23 million severance package.
