Marissa Mayer announced today in a note posted to her personal Tumblr page that she will be redistributing her annual bonus and equity stock grant to Yahoo employees. The chief exec is doing so as a tacit admission of failure following Yahoo’s two separate security breaches revealed last year that collectively compromised the personal information of more than 1.5 billion users. The move, a rather unprecedented act in the tech industry, signals just how severe a mistake it was to allow Yahoo’s vulnerabilities to be exploited.
Yahoo revealed last year that it suffered two security breaches, one in 2014 and one in 2013, that compromised info like names, email addresses, telephone numbers, and cached passwords. While payment information was not involved, the hacks were an embarrassing moment for the company during its acquisition talks with Verizon. As a result, the telecom negotiated to pay $350 million less than its original …
READ MORE ON THEVERGE.COM