Yahoo Fires General Counsel and Docks Marissa Mayer’s Bonus and Stock Award (Mar 1, 2017)
It looks like Yahoo is finally announcing the results of its independent investigation into the security breaches of the last few years, and as a result its general counsel is stepping down and CEO Marissa Mayer is losing her bonus and equity grant for the year, a decision apparently made by the board. Yahoo’s 10-K, also released today, gives a little more detail on the investigation, which was carried out by members of the board, assisted by outside counsel and a forensics expert. The investigation concluded that senior executives “did not properly comprehend or investigate, and therefore failed to act sufficiently upon, the full extent of knowledge known internally by the Company’s information security team.” That implies that it was executives and not security specialists within the company who messed up here, which explains why Mayer and general counsel Ronald Bell were punished. The paragraph on the findings is worth reading in full as it’s fairly damning about internal communication at Yahoo at the time. And yet this is all part of clearing the decks before Verizon takes over, at which point it will be hoping to put all this behind it. Not the best way for Mayer to go out, but I think that was inevitable at this point.
via Marissa Mayer (Tumblr) – see also Yahoo’s 10-K (p.46-7)
The company, topic, and narrative tags below will take you to other posts with the same tags. The narrative link(s) will also take you to the narrative essay which provides additional context behind the post.
Vote for or share this post
Use the Like button below to vote for this post as one of the most important of the week. The posts voted most important are more likely to be included in the News Roundup podcast episode I do each week. Or use the sharing buttons to share a link to this post to social networks or other services.