Yahoo punishes CEO in latest fallout from security breakdown
SAN FRANCISCO - Yahoo is punishing CEO Marissa Mayer and jettisoning its top lawyer for the mishandling of two security breaches that exposed the personal information of more than 1 billion users and already have cost the company $350 million.
Mayer won't be paid her annual bonus nor receive a potentially lucrative stock award because a Yahoo investigation concluded her management team reacted too slowly to one breach discovered in 2014.
Yahoo's general counsel, Ronald Bell, resigned without severance pay for his department's lackadaisical response to the security lapses.
The penalties disclosed Wednesday in Yahoo's annual report represent the latest toll exacted by the biggest security breaches in internet history.
Yahoo already lowered the sales price of its digital services to Verizon Communications by $350 million in the fallout.