Yahoo announced its new CEO, Scott Thompson, on Wednesday.Thompson was president of PayPal and he’ll be joining Yahoo tomorrow. He was lured with a payment package of up to $26 million.
Thompson’s 2012 base salary will be $1 million with a guaranteed bonus of another $1 million. Depending on the company’s performance, he might be able to up that bonus to $2 million.
In addition, Thompson’s stock grant this year is valued at $11 million with a $5 million grant tacked on as a “one-time hiring perk.”
There’s more. Yahoo is paying Thompson for the stock and bonus he’ll miss out on by leaving PayPal too. “He’ll get a cash bonus of $1.5 million, plus a grant of restricted stock units worth $6.5 million,” writes CNN’s Julianne Pepitone. “Of those restricted stock units, $5.5 million worth will vest on March 15. The remaining $1 million will vest in 2013 if Thompson remains in his position.”
That all sounds like a lot, but it’s about half of what Carol Bartz was given. Her 2009 payday was an estimated $47 million.