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

In this Feb. 18, 2016, file photo, Yahoo CEO Marissa Mayer delivers the keynote address at the Yahoo Mobile Developer Conference in San Francisco. AP

SAN FRANCISCO — 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. TVJ