Yahoo CEO could get $55M in severance pay in potential sale

SAN FRANCISCO (AP) – Yahoo CEO Marissa Mayer will walk away with a $55 million severance package if the company’s auction of its Internet operations culminates in a sale that ousts her from her job.

The payout disclosed in a Friday regulatory filing consists of cash, stock awards and other benefits that Mayer would get should she be forced out as CEO within a year after a sale.

Although Yahoo’s board is still evaluating takeover offers, most investors are betting that the company will decide to sell its well-known brand and an Internet business that includes a popular email service and sections focused on sports and finance.

Mayer, a former Google executive, has been unsuccessfully trying to turn around Yahoo for nearly four years. Instead, Yahoo’s long-running slump has deepened during her reign.

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