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Marissa Mayer Addresses Yahoo Staff in First Memo
Freshly appointed Yahoo CEO Marissa Mayer sent her first memo to her new underlings Thursday, in which she encouraged them to “keep moving.”
Freshly appointed Yahoo CEO Marissa Mayer sent her first memo to employees Thursday, in which she encouraged them to “keep moving.”
In the note, published by All Things D, Mayer expressed her excitement to be working with the new team at a company she has known and respected since her days at Stanford in the 1990s, when Yahoo was known as “David and Jerry’s Guide to the World Wide Web.”
The memo comes amidst regulatory filings that revealed Mayer will receive a base salary of $1 million per year, but could earn millions more if she hits certain targets.
“The company has been through a lot of change in the past few months,” she said, “leaving many open questions around strategy and how to move forward.”
Mayer has some ideas, but wants to develop a more informed perspective before moving forward with any strategic changes, she said. In the meantime, she implored employees to keep doing “important work,” and to not hesitate to speak up if questions or concerns arise.
“With the exception of a few things that might heavily constrain us in the future, the answer is most likely: ‘Yes, keep moving,’” she said.
Mayer will be well-compensated for her work at Yahoo. According to filings with the Securities and Exchange Commission (SEC), Mayer will get a base annual salary of $1 million, or about $83,000 per month. Yahoo’s executive incentive plan, however, allows Mayer to earn 200-400 percent of her base salary if she exceeds targets.
The Wall Street Journal reported that Mayer will likely get $5.4 million in 2012 and about $20 million per year after that, depending on whether she hits those targets.
Mayer leapfrogged from Google’s vice president of location and local services to the head of Yahoo last week, following a rash of Yahoo CEO hirings and firings that saw the exits of Carol Bartz and Scott Thompson. In her inter-office memo, Mayer thanked Ross Levinsohn, who has served as interim Yahoo CEO since Thompson’s departure.
“Companies are all about people and the companies with the best talent win,” the new chief executive officer said. Joining Yahoo was an easy decision, she said, “because of the strength of Yahoo’s talent and the whole team here is apparent.”
In order to produce what Mayer called “the most compelling and exciting user experiences anywhere,” she said the company will continue to invest in talent, and will forge ahead with the search engine’s tradition of innovation and creativity.
Mayer ended her note with an invitation for employees to visit her office to say hello, adding that she “cannot wait to hear your ideas for Yahoo’s future.”
Earlier this week, despite the new company leader’s absence, Yahoo reported its second quarter earnings, which were slightly higher than expected, but not spectacular. Also this week, Mayer confirmed that she is expecting her first child in October.
By Stephanie Mlot, PCMag