New Yahoo boss gets $19m pay package

Incoming Yahoo chief executive Carol Bartz will make at least $19 million (£13 million) in her first year, despite heading a company that is falling behind arch-rival Google.

Her pay package includes a $1 million salary, plus cash and stock grants worth $18 million. She will also get five million stock options.

As part of her $19 million pay package, Bartz will get an annual payment worth $8 million and a "make-up" grant worth $10 million — 25% in cash and 75% in stock — to compensate her for what she forfeits from Autodesk, her previous employer.

She is also eligible for an annual bonus of up to $4 million.

Bartz replaces co-founder Jerry Yang, who resigned under pressure from investors after his decision to reject a takeover offer from Microsoft last year.

But Bartz said she would have made a similar decision and would not be pursuing a smaller scale deal to sell Yahoo's search business to Microsoft.