Amid turmoil at Yahoo that in recent weeks has powered reports ranging from a potential sale to the media leviathan’s most recent plan to spinoff its core Internet operations, details are emerging about the “eye-popping” compensation paid its top editor.
Citing inside sources, Politico is reporting that Martha Nelson, who joined Yahoo in August after leaving Time, Inc. in a 2013 restructuring settlement, earns $5 million annually in her new global editor-in-chief role. Such compensation packages are often loaded with incentives in order to reach stated figures, and company stock typically factors heavily in deals for top talent.
Since CEO Marissa Mayer boarded Yahoo from Google in 2012, the company has undertaken a massive turnaround plan, placing an emphasis on content that has resulted in the acquisition of news anchor Katie Couric at a reported $10 million, as well as “a small army” of legacy media stars, according to Politico, to shepherd the company’s various editorial properties.
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Nelson previously served as the first female editor-in-chief of Time Inc., where she oversaw editorial content for the company’s 12 brands.
Before being promoted to editor-in-chief, Nelson served as editor of the People group and was the founding editor of InStyle.
She exited the company in 2013 as part of an executive shuffle that brought back former Time Inc. editor-in-chief Norm Pearlstine in the newly-created role of executive vice president and chief content officer.
Also Read: Time Inc. Veteran Martha Nelson Joins Yahoo as Global Editor-in-Chief
A Yahoo spokesperson said that the company does not comment on personal matters of employees.
