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News Summary: New Yahoo CFO nearly doubles salary

Wednesday - 9/26/2012, 4:34pm  ET

By The Associated Press

(AP) - BIG PAY BUMP: Yahoo's new chief financial officer, Ken Goldman, is starting off with a $600,000 salary and a bonus of up to $540,000. That's a significant raise from the $327,818 salary and maximum bonus of roughly $200,000 that he received as CFO at security software specialist Fortinet Inc.

LONG-TERM INCENTIVES: Goldman, 63, also is getting restricted stock-base awards valued at a total of $12 million. They will vest gradually over the next three to four years.

CHALLENGE AHEAD: Yahoo Inc. CEO Marissa Mayer is counting on Goldman to help turn around the company.

(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)