Yahoo! Inc.'s new chief executive officer, Carol Bartz, will receive a salary of $1 million and equity grants valued at more than $18 million, Bloomberg reported.
Bartz, who took over this week, will get 5 million stock options, the company said today in a filing with the U.S. Securities and Exchange Commission. She is also eligible for an annual bonus of as much as $4 million, Yahoo said.
Bartz, former executive chairwoman at Autodesk Inc., took the reins at Yahoo after co-founder Jerry Yang said in November that he planned to stand down. She's tasked with finding a way to fuel growth after Yang spurned a takeover offer last year from Microsoft Corp. for as much as $47.5 billion. Bartz also joined Yahoo's board.
Yahoo, owner of the second most popular U.S. search engine, will give Bartz an equity grant for 2009 of $8 million. She will also receive a grant valued at $10 million to compensate for the pay she gave up to come to Yahoo.
Yahoo, based in Sunnyvale, California, fell 80 cents to $11.61 today in Nasdaq Stock Market trading.
