Since Carol Bartz became Yahoo’s CEO in mid-January of last year, the company’s performance has been less than stellar. Bartz has still raked in plenty of cash and stock options, though, earning her a place on a list of overpaid CEOs.
Glass-Lewis, a governance analysis and proxy voting firm, put together the list, and in fairness to Bartz and Yahoo, it’s not like their names were the only ones on it. Glass-Lewis observed in a statement, "Our research shows that there remains an abundance of bad apples that continue to accept significant financial risk in order to attract and retain executives."
Also, a quick check of the performance of Yahoo’s stock shows that Bartz hasn’t killed the company; the stock’s actually risen almost ten percent in the time she’s been in charge.
The trouble is that most other stocks have done much better, as you can see below.
So Colin Barr was able to write, "Bartz sports the biggest paycheck on the list of 25 overindulged big companies compiled by proxy adviser Glass-Lewis. . . . She took home $39 million last year, including a $10 million make-whole payment for options relinquished when she left Autodesk, her previous employer."
It should be interesting to see if Yahoo’s third quarter earnings report (which will be delivered on October 19th) makes Bartz’s compensation package seem more or less reasonable.