Yahoo's CEO exits with $23 million dollar cheque

The "is Verizon going to buy Yahoo or not" saga is now complete with the deal officially going down this week.

The next questions was "Is Yahoo's CEO going to get a huge payout?". That question was also answered with a big yes.

As part of Yahoo's CEO contract there was a clause that she'd be a bonus if Yahoo was purchased, that bonus comes in at $23 million dollars. Not surprisingly, as soon as the deal closed it was announced that Yahoo's CEO, Marissa Mayer, was resigning and taking her $23 million dollar parting gift.

Unfortunately now that this whole deal is done we'll have much less news to report and the Yahoo saga provided many hours of entertainment as they repeatedly tried to shoot themselves in the foot as they were up for sale. CNBC has the full story.


Mayer, Yahoo CEO since July 2012, is expected to receive a "golden parachute" payment that filings with the Securities and Exchange Commission say is worth more than $23 million.