While Yahoo CEO Marissa Mayer has a reason to be happy after being blessed with two girls, she may also have to face backlash for a lavish themed party that cost $7 million. She’s also come under fire for many other seemingly frivolous expenses at the internet company.
Marissa Mayer just gave birth to twin girls. She and her husband, Zachary Bogue, have a 3-year-old son, Macallister, reported Canada Journal. The dedicated professional indicated she intends to return to work within a couple of weeks. She had faced some criticism when she was pregnant with Macallister for returning to work within two short weeks of the delivery. Macallister was born in 2012, shortly after Mayer had joined Yahoo.
Interestingly, the woman who resumed her duties at Yahoo within 15 days of the delivery and faced criticism for the same was later praised for doubling paid maternity leave to 16 weeks across the company. Mayer also extended the privilege to fathers, allowing any new father to take up to eight weeks of paid leave.
Mayer announced the delivery on Twitter and added that the family is “doing great.”
Mayer had announced her pregnancy in September, reported Go Sport Times. In a post to her Tumblr account, Mayer had candidly added that the twins were a huge surprise, as no one in her family has ever had twins. She further revealed that she intends to follow the same procedure she adopted during her first pregnancy, which is taking limited time away and continue working throughout.
As for her intentions for pulling Yahoo from the perpetual slide, she said, “Moving forward, there will be a lot to do for both my family and for Yahoo; both will require hard work and thoughtful prioritization.”
Despite the joyous occasion, Mayer may be asked to answer about a lavish holiday party that reportedly cost in excess of $7 million. Besides the exorbitant party cost, she is also accused to excessive spending habits at the company’s expense. Eric Jackson, the founder of SpringOwl Asset Management, claims Mayer spent $450 million on free food for employees over her four years at the company, reported the Daily Mail.
Despite the fact that Yahoo is struggling, Marissa Mayer allegedly spent over $7 million on a Great Gatsby-themed holiday party in San Francisco. Mayer sat on a “pure white arm chair” posing for photos with employees.
An individual who chronicled Mayer’s lavish party confirmed it was organized in a large warehouse on a pier. The warehouse was decorated with multiple chandeliers and a vintage Rolls Royce. All the customized tables had “The Roaring 20th Year End Party 2015” scribbled on them to inform guests about the theme of the party. Apart from a gambling parlor, guests were entertained by a burlesque troupe and a “Canadian boy/girl cover band.” The guest added that besides a large selection of top-grade liquor and variety of food offerings, there were “swinging flapper aerialists pouring champagne towers.”
Incidentally, the party was just one of many examples of excessive spending cited by hedge fund manager Eric Jackson, reported Business Insider. In a 99-page presentation that Jackson presented to the board of Yahoo, he attempted to highlight how Mayer has spent millions of dollars of Yahoo’s money. The company not only lost revenue, but it also couldn’t hold on to its once-loyal viewers who have moved on to internet giants Google and Facebook.
The report adds that Mayer spent Yahoo’s $2 million to gift JawBone Up fitness bracelets to mark her one-year anniversary at the company. Incidentally, Mayer is on the board at JawBone. Jackson noted that Mayer spent another $3 million to sponsor the Met Ball earlier this year. Surprisingly, in return for the sponsorship, Yahoo received just three tickets to the event. Yahoo was also the official sponsor of the Davos conference in Switzerland earlier this year. Mayer spent another $2 million on private jets. Yahoo is also expected to spend about $9.3 million to gift iPhones to its 22,000 employees.
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