Former Yahoo CEO Carol Bartz to receive a $10 million severance package

Posted by Knowlton Thomas on 2011-09-08 10:18:00 AM

For many of us, getting fired sucks and means scrambling to pay the bills. For others, it means you just got your retirement fund (and then some).

One such person is Carol Bartz, who was recently removed from her role as Yahoo's CEO by the chairman and replaced by CFO Tim Morse.

Her declining quarterly internal disapproval ratings and the continued deteroriation of Yahoo surely spurred the move, but it's nonetheless been deemed "termination without cause." As a result, Carol will be handed a severance package that includes millions in cash, a million or two via a pro-rated yearly bonus, and stock worth well over $5 million, according to CNN.

Carol joined Yahoo in 2009.

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Knowlton Thomas

Knowlton Thomas

Knowlton is the Associate Editor of Techvibes. A Vancouver-based writer and author, Knowlton has been published in national publications and has also appeared on television and radio. He has written two ebooks and more are in the works. Previously, he was an editor for New Westminster weekly The Other Press and served on its board of directors. When not working, Knowlton enjoys playing... more



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