Yahoo is punishing CEO Marissa Mayer and jettisoning its top lawyer for the mishandling of two security breaches that exposed the personal information of more than 1 billion users and already have cost the company $350 million.
Mayer won’t be paid her annual bonus nor receive a potentially lucrative stock award because a Yahoo investigation concluded her management team reacted too slowly to one breach discovered in 2014.
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Yahoo’s general counsel, Ronald Bell, resigned without severance pay for his department’s lackadaisical response to the security lapses.
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The penalties disclosed Wednesday in Yahoo’s annual report represent the latest toll exacted by the biggest security breaches in internet history.
READ MORE: Yahoo warns users of more malicious activity linked to security breach
Yahoo already lowered the sales price of its digital services to Verizon Communications by $350 million in the fallout.
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