Semel Swaps Salary For Stock

Yahoo CEO Terry Semel will trade all but one dollar of his annual salary in exchange for receiving assorted shares of Yahoo and stock options. In Silicon Valley, no one beats Yahoo's CEO when it comes to matching paychecks. ZDNet survey cited in the San Francisco Chronicle noted. Although four of the top seven executives in that survey all have Yahoo on their business cards, presumably printed in money-green ink, Semel will experience a salary cut for 2008. The company's board of directors have decided to nudge their CEO's salary down to a symbolic $1, and will make up the difference with stock and options. A slew of Form 4 and 8-K denoted by MarketWatch. The stock last traded at 31.52. The $1 salary has come back into vogue. Lee Iacocca famously accepted a $1 salary when he was working toward Chrysler's recovery many years ago. Now, such iconic names as Steve Jobs, Eric Schmidt, and Google founders Sergey Brin and Larry Page have switched to the $1 salary. Add to Del.icio.us | Digg | Yahoo! My Web | Furl Bookmark Murdok: David Utter is a staff writer for Murdok covering technology and business.