Ousted Yahoo! chief exec Carol Bartz has stepped down from the company board, taking what’s believed to be a $14m severance package with her. Bartz had originally intended to remain on the board, but was seemingly persuaded to do otherwise, The Guardian reports, with the compensation amount calculated by the WSJ’s Amir Efrati. The decision follows Bartz’s expletive-packed roasting of Yahoo! management, in which she accused chairman Roy Bostock of cowardice in hiding behind a lawyer’s prepared statement.
“Why don’t you have the balls to tell me yourself” the ejected exec apparently asked Bostock, before going on to say that the board had “f*#ked me over.” She also claimed to be the best person to guide Yahoo! through its tumultuous times, suggesting that it had been board members’ concerns over appearing weak that led to them axing her before her regrowth strategy had a chance to succeed.
No matter which strategy Yahoo! now takes, however, if it’s successful then Bartz actually stands to benefit even more. Part of her contract details a share-related payout based on Yahoo!’s stock price hitting a certain figure – if a turnaround is achieved, and the market rallies behind the company, she could end up taking away considerably more than $14m.