Yahoo to give new chief Mayer USD 70m pay package?

London, July 20 (ANI): Web giant Yahoo has revealed that it could give a USD 70 million remuneration package to new chief executive Marissa Mayer.

Though Mayer's basic salary will be a million dollars a year, but shares and share options, along with other potential rewards, could make it far more lucrative.

According to The BBC, the basic salary will be subject to an annual review, while her annual bonus has a target of double her basic salary, which will be made up of shares redeemable after three years.

The figures were revealed in a filing with the US financial watchdog the Securities and Exchange Commission (SEC).

Mayer, 37, who is the firm's third chief executive in the span of a year, began work at Yahoo on Tuesday this week, having jumped ship from Google.

In May, former chief executive Scott Thompson stepped down after accusations that he put a fake computer degree on his CV.

Yahoo has struggled in the face of increased competition from internet search rivals including Google, and the emergence of social giants such as Facebook. (ANI)