Former Yahoo CEO Carol Bartz is expected to rake in $14 million from Yahoo as part of her severance package and related stock options.
The news comes after Bartz, apart from getting fired, was ‘obliged’ to step down as a member of Yahoo’s board of directors.
According to an article on The Guardian, Amir Efrati of the Wall Street Journal tweeted that Bartz will be getting around $14 million as exit compensation from Yahoo.
A large chunk of the severance package is related to a clause in Bartz’s agreement with Yahoo, that says she will receive severance benefits if fired ‘without cause’. Based on Yahoo’s security filing, if Bartz would have been fired in 2010, her severance package would have been $10.4 million.
Bartz, known for her foul mouthed rants, said in a telephone interview with Forbes over the weekend that Yahoo’s board ‘F***ed her over.' She called the board members the worst one in the country and added that they were a bunch of ‘doofuses.'
“The board was so spooked by being cast as the worst board in the country. Now they're trying to show that they're not the doofuses that they are,” she said.