Yahoo CEO to give annual bonus to employees following numerous security breaches

[William Gayde]

Yahoo has had to endure a few rough years, among other reasons from serious security breaches. In 2014, at least 500 million accounts were compromised and it was later revealed that more than 1 billion accounts were also compromised back in 2013. This has led to the brand facing significant trust issues with its users. Verizon, who has been in talks for months to purchase Yahoo, even asked for a $350 million discount on the purchase price because of the hacks.

In a post to her personal Tumblr page, CEO Marissa Mayer has decided to forgo her annual bonus and equity stock and give it all to Yahoo employees instead. She released the following statement:

I am the CEO of the company and since this incident happened during my tenure, I have agreed to forgo my annual bonus and my annual equity grant this year and have expressed my desire that my bonus be redistributed to our company’s hardworking employees, who contributed so much to Yahoo’s success in 2016.

The move is meant to put these embarrassing incidents behind, so Yahoo can move forward with the Verizon acquisition and other future plans. The statement follows an SEC report filed this week regarding the security breaches and Yahoo's response. In it, they admitted:

It appears certain senior executives did not properly comprehend or investigate, and therefore failed to act sufficiently upon, the full extent of knowledge known internally by the company’s information security team

As a result of this, Yahoo's top lawyer Ron Bell appears to have taken the blame and was fired. In hindsight, Yahoo should have been more transparent in their security practices and more rigorous in their investigation. Mayer's move is an honorable gesture given all that Yahoo has put its employees through.

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https://www.techspot.com/news/68363-yahoo-ceo-give-annual-bonus-employees-following-numerous.html

 

[Uncle Al]

Rewards for incompetence .... nothing new, CEO's have been doing it for decades!

 

[Skidmarksdeluxe]

Rewards for incompetence .... nothing new, CEO's have been doing it for decades!

She can easily afford to do that and it's the very least she can do. It doesn't matter if she never works another day in her life, she's financially set for the rest it. She just wants everybody to remember her as being gracious, generous and noble.

 

[yRaz]

Well if bankers on wall street can give themselves bonuses for crashing the economy with taxpayer bailout money I don't see much of a problem with a company giving incompetent employees bonuses with their own money

 

[JudasSheep]

How about instead, you pay for your customers who were affected by this breach to get protection for a year or 3 like the Gov did with the OPM breach? As one of those affected people in both cases, it would of been nice to have been notified when the breach occurred so I could stop using the account, but no that would be too much work for your hard working employees and you wanted to keep it in house. Shame on you Yahoo!

Why isn't there any legislation that says companies who are affected by a security breach must pay out damages to those affected by said breach? Hit them in the damn wallet and they will start responding with better security. Next breach my data gets out, I am suing! As a security professional, it's down right disgusting companies get away with this, because it's not that difficult when you know how and are willing to pay for it.

 

[captaincranky]

She should give herself a bonus by throwing that god awful hideous dress away, and buying herself something that doesn't make her look like a 1950's housewife.

It gives one pause to wonder who was its designer, "June Cleaver"?

Have I got a set of wheels for you darlin'.....