LONDON - Internet portal Yahoo! has awarded Terry Semel, its recently appointed chairman and CEO, a stock-option package that gives him just under 2% of the company.
Based on Yahoo!'s currently market capitalisation of $11bn (£7.7bn), the deal is worth $220m (£155m).
Semel, who succeeded Tim Koogle on May 1, receives options to buy 10m shares as part of his package. He already has 1m shares bought the day he was appointed CEO.
Semel, a former CEO of Warner Bros, was appointed to turn around the struggling internet portal and add revenue from sources other than advertising.
www.yahoo.com
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