Yahoo CEO Marissa Mayer announced today via her Tumblr page that she will be redistributing her annual bonus and equity stock grant to Yahoo employees to make up for two security hacks which thumped the company.
An independent committee Yahoo brought on to investigate the hacks found the company to be at fault for not sufficiently responding to the security incidents.
The committee said that while significant additional security measures were implemented in response to those incidents, it appears certain senior executives did not properly comprehend or investigate, or act on information provided internally by the company’s information security team. Because of the hacks, Yahoo’s top lawyer, Ron Bell, was fired.
Mayer has accumulated about $162 million during the five years she’s spent as the company’s CEO in both salary and stock awards. She’s also due about $55 million in severance if she decides to leave the company following its acquisition by Verizon.
While it is nice that Mayer is giving her cash to the employees, most of the victims of the security fiasco were customers and users, who are no doubt organising a class action as we write.