Yahoo Chief’s Salary More Than Tripled in 2002
- Share via
Yahoo Inc. Chairman and Chief Executive Terry Semel saw his salary more than triple last year to about $1.35 million, while receiving options to buy 2.8 million company shares with a potential value of more than $62 million, according to a filing with the Securities and Exchange Commission on Tuesday.
Separately, the Sunnyvale, Calif.-based Internet company said Tim Koogle, its former CEO, would leave the Yahoo board to focus on other enterprises.
Semel, a former Hollywood executive, replaced Koogle two years ago and is credited with restoring the company to profitability.
Yahoo posted net income of $47.6 million in the first quarter, contrasted with a $53.6-million loss in the year-earlier period, as revenue rose 47% to $282.9 million.
In 2001, Semel received compensation of $383,532 and options to buy 11 million shares.
Recently, some securities analysts questioned whether Yahoo can sustain the current run-up in its share price.
The company’s shares, which rose 46 cents to $24.81 in Nasdaq trading Tuesday, have nearly tripled in the last year.
Last week, Yahoo unveiled a rebuilt Internet search engine meant to give it an edge in its rivalry with Google Inc.
