Marissa Mayer said since the hacking episodes came to light during her tenure, it becomes her moral responsibility to forgo of her annual bonus and equity grant.
Yahoo CEO Marissa Mayer said she wants to owe up to the two mega hacking incidents that rocked the company during her tenure and as a fallout, she would rather have her yearly bonus disbursed equally among the company’s employees. That is not all as the chief executive is also dedicating her 2017 equity to her employees.
The above development comes at a time when board investigations into the twin hacking incident have held the officials partially responsible for the scandal. The investigations concluded that senior executive and lawyers along with key officials of the company’s information technology security team have been aware of attempts to hack into affected accounts in 2015 and 2016. The securities filing made by the company’s board of directors also accused the officials of not pursuing the security threat seriously enough.
Yahoo has been at the center of two of the most massive hacking incidents ever recorded in history. It first revealed in September last year that more than 500 million of its user accounts were hacked back in 2014. It came back again in December with news of an even bigger hack affecting a billion of its users which happened in 2013.
The securities filing also stated the information stolen in the last two hacks allowed them to create forged cookies that hackers then used to break into 32 million user accounts in the last two years without requiring passwords. That is not all as Yahoo also stands accused of allowing government agencies to keep a tab on its user’s emails.
Yahoo had earlier stated the hacking attempts had the backing of a foreign government that enabled them to pull off something this massive. The company didn’t name any company or foreign agencies, though.
That the hacking scandals came to be known when the company was being negotiated for acquisition by Verizon also had its effect with Verizon benefitting from a $350 million discount. Yahoo is hopeful of concluding the deal by June and let’s hope no other hacking episodes comes to haunt the company in between.