Yahoo said at the weekend that chairman Terry Semel's annual salary would be reduced from $600 000 (R4 million) to $1 through 2008, in exchange for 6 million of company stock options that would allow him to build on the $429 million windfall that he had reaped over the past three years.
Yahoo rival Google also pays a $1 salary to chief executive Eric Schmidt and to co-founders Larry Page and Sergey Brin. Like Semel, the Google trio has made millions by selling company stock. - Sapa-AP, Sunnyvale, California