By Ariel Zilber For Dailymail.com and Afp
Published: 22:50 GMT, 19 March 2019 | Updated: 22:50 GMT, 19 March 2019
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Tim Armstrong, the first-ever CEO of Verizon’s Oath, will receive $60million to leave the company even though the division he led saw its value drop by half, it has been reported.
In a move announced by the company last fall, Armstrong left after his stint as the head of the Verizon unit that included faded internet stars AOL and Yahoo.
The $60million payout is derived from a combination of salary, severance, and an incentive package that he received when Verizon acquired AOL in 2015, according to The Wall Street Journal.
The bulk of the payment is from the $31.1million founders award he received last year.
Tim Armstrong, the first-ever CEO of Verizon’s Oath, will receive $60million to leave the company even though the division he led saw its value drop by half, it has been reported
He
