Bartz Could Get About $10 Million After Firing {yahoo}

[xchrom]

http://www.bloomberg.com/news/2011-09-08/bartz-may-get-10-million-payout-after-being-fired-by-phone-as-yahoo-ceo.html

Carol Bartz, who was fired Sept. 6 as Yahoo! Inc.’s chief executive officer, stands to receive a payout in the range of $10 million after less than three years on the job.

Bartz, 63, would have received $10.4 million, including cash and equity, had she been fired at the end of last year, according to a April 29 filing by the company that estimated the payout. In addition, Bartz is still eligible for vesting stock options based on the shares reaching certain milestones in the future.

Yahoo fired Bartz, who took the helm in January 2009, after the company posted disappointing sales and struggled to compete with rivals Facebook Inc. and Google Inc. (GOOG) Yahoo will lose its spot as the top seller of display ads in the U.S. to Facebook this year, New York-based researcher EMarketer Inc. has predicted.

The company said in a filing yesterday that “no new compensatory or severance arrangements were entered into in connection with these leadership changes.”

[OhioChick]

1. 10 Mil when you're fired?

:wow:

[xchrom]

2. i'm in the wrong line of work. nt

[OhioChick]

3. You and me both n/t