Yahoo (YHOO) shareholders are losing patience with CEO Terry Semel, whose total pay package last year (including 6.8 million stock options) by one measure totaled $107.8 million. That brings his total compensation since he took the helm in 2001, including all gains on stock options not yet exercised, to a whopping $451 million. Meanwhile, the stock is barely treading water, despite a big shake-up and reorganization last December.
It's not just shareholders who are fed. So too are top executives, who continue to flee the company. Reports the NYT:
Since Mr. Semel reorganized the company into three units in December, it has experienced a steady stream of executive departures, . . . Now two of . . . three operating units lack a permanent leader. The head of Yahoo’s technology group, Farzad Nazem, left late last month after 11 years with the company. And Yahoo has yet to name an executive to run the audience group, which was created in December and oversees many of the Yahoo’s most important Web offerings.
In addition, 17 executives at the vice president level or higher are known to have left Yahoo since the December shake-up.