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Yahoo Hacks that weren’t Prevented Makes CEO Mayer Lose her Bonus

 

In a strong reprimand, Internet Company Yahoo cut short over $12m out of the compensation package of Marissa Mayer, chief executive officer as the initial procedures for holding the CEO accountable for the dual unprecedented hacks into client database which the company couldn't prevent.

 

Mayer will have to rest with forgoing her yearly bonus of 2016 along with the equity grant entitled to her of 2017. This follows a probe done independently which showed Yahoo's executives on the top were aware of the company's encounter with one prominent hack during 2014, however, didn't conduct a proper investigation.

 

On Wednesday March 1, 2017, Mayer stated about her knowledge during September 2016 of an enormous volume of the company's client database being stolen and then leading a team of officials for unveiling the breach to clients, government agencies and regulators.

 

Meanwhile, it isn't quite known if Mayer knew about the attack while a number of other officials in the company learnt of it during 2014. Mercurynews.com posted this, March 1, 2017.

 

During September 2016, Yahoo declared that the company perceived clues about the 2014 hack that impacted a maximum of 500m accounts. During 2016 end month Yahoo admitted discovering another major data breach impacting a maximum of 1bn accounts.

 

Authorities conducting the probe stated certain forgeries in the breach had a link with those same hackers receiving state sponsorship for hijacking Yahoo during 2014. Ever-since Yahoo invalidated the cookies that were involved in the forgeries. The hack of 2014 aimed at 26 distinct A/Cs via the abuse of the account management software of the company. Yahoo admitted its unnamed senior officers fell short of perceiving the attack's intensity early enough. It also admitted that the company didn't have security as a top priority always as it hadn't directly connected it with revenue earning.

 

Yahoo's fresh deal conditions make it totally answerable to possible lawsuits in connection with the hack. It'll as well bear the onus of any cash expenses emerging because of the hacks. On Wednesday, Yahoo told about it embracing novel structures and processes for being more responsive to security events.

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