Scott Thompson will receive an annual salary of $1 million as Yahoo’s new president and CEO, the company said in a Security and Exchange Commission filing today. His total deal with bonuses and grants could reach as high as $27 million during his first year with the struggling Internet giant. Yahoo said the former PayPal chief will be eligible for a bonus twice his salary each year, along with an annual equity grant with a 2012 target value of $11 million. One-time items include a $1.5 million cash bonus, an inducement grant of $5 million and a grant of restricted stock units with a value of $6.5 million. Meanwhile, the Wall Street Journal is reporting that Yahoo has hired a search firm to identify possible additions — and likely replacements — to the board of directors. The group that includes chairman Roy Bostock and co-founder Jerry Yang has been criticized by shareholders as the company contemplates its future. Today’s SEC filing also said Yahoo has increased the size of its board from nine to 10 members, adding Thompson as a director.
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