Jerry Yang, the co-founder and CEO of Yahoo Inc. shouldn’t have to pay much tax on his personal IRS bill this year. He takes only $1 in salary because the Internet icon has already made him a billionaire.
Yahoo disclosed the compensation packages for Yang and other top-paid executives for 2007 on Tuesday.
Yang,39, did not receive a bonus, stock options or anything else to supplement his $1 salary in a year that saw Yahoo earnings fall by 12 percent and stock prices loss nice per cent.
Yang took over the helm as CEO in June. He replaced Terry Semel who received a compensation package of $71.7 million. That package angered shareholders who believed that he had been unjustly rewarded.
The $1 token salary has been in effect for several of the creme de la creme of Silicon Valley. Apple Inc. CEO Steve Jobs and Google Inc. co-founders Larry Page and Sergey Brin each take home an annual paycheck of a buck.
Leave a Reply
You must be logged in to post a comment.
You must be logged in to post a comment.