Mercury News reports that in addition to his $600,000 salary in 2004, Terry Semel, the Yahoo CEO, received $231 million by exercising options and then selling the stock. Semel's total pay package, disclosed in a Yahoo regulatory filing Monday, ranks among the biggest ever for a corporate executive nationwide.
This guy does not deserve this pay whatsoever - no hired executive does! Yahoo is a company that has grown organically and likely would have met its targets with any competent CEO. That sort of compensation should be fairly divied among the ranks, not just to the top brass. I'm sure there are hundreds of rank and file employees who deserved a portion of that pay more so than Semel.
I'm never a fan of going after Boards, but this is completely outrageous. It's a breach of fiduciary responsibility and I hope someone goes after those gusy.