Looks like someone was paying attention to the fact that Terry Semel was getting paid to let Yahoo! fall asleep at the wheel, let Google gain massive market share, and erase Yahoo! shareholder value:
Last year, $107.5 million in stock grants was given to Semel in lieu of a $1 salary, a year in which Yahoo stock dropped about 35%. That means he was paid $107.5 million for erasing over $15 billion in shareholder value!
Terry Semel, Yahoo’s CEO, is being replaced by Yahoo co-founder Jerry Yang. Shares should rise an immediate $5. Yahoo!!!
Remember the days when Semel had a chance to buy Google?