Yahoo's Terry Semel to be paid $1 salary

[engine]

The $1 salary follows moves by other tech executives, including Apple chief executive Steve Jobs, Google chief executive Eric Schmidt, and co-founders Sergey Brin and Larry Page

Yahoo chief executive Terry Semel, the highest compensated executive in the San Francisco Bay Area last year at more than $56.8m (£30m), will receive an annual salary of $1 through 2008, according to documents made public on Friday by the US Securities and Exchange Commission.

Yahoo's Terry Semel to be paid $1 salary [news.zdnet.co.uk]

[httpwebwitch]

Terry Oh Terry you are an inspiration to us all. Is he trying to shed his image as a welathy-beyond-my-imagination executive? Kinda hard to do when you can shake your head and money falls in your wake like dandruff. I'm a bit impressed by this, but would be moreso if Terry took his salary and redirected it (301 or 302?) to a humanitarian charity, foundation, or some other recipient.

I can only imagine how hard that decision must have been for Mister Semel... literally I can only imagine it cuz it ain't happening to me any time soon.

[GeorgeK]

Use variants of Black-Scholes to price those stock options he's getting, and you can see why he did it. Those are worth tens of millions.

[walkman]

how sweet :)

I have to say that this is a nice gesture, and good PR. let's be honest, salary usually is ~$1 million or so, and for one who will still make tens of millions in stock options is nothing. He gives the salary up, gets great PR, probably more opinions too and still flithy rich. Where do I sign up for that?

[sem4u]

When you find out walkman let us know....

[Essex_boy]

I hope they are not paying him in advance!

[mattglet]

At least he doesn't have to pay a lot of income tax!

Yes, I know about the stocks... it's just a joke ;)

[percentages]

>The $1 salary follows moves by other tech executives.......

George Washington never accepted remuneration, JFK donated his government salary to charity.....now we have some of the wealthiest CEO's declining a "salary"......

Think Not What Your Company Can Do For You, But Think Of What You Can Do For Your Company's..........stock price ;)

[LifeinAsia]

Where do I sign up for that?

I'll let you work at my company for $1/year. ;)