Yahoo CEO Terry Semel's salary just got cut by $559,999. Yes, you read that last sentence correctly. Yahoo's board decided to cut the CEO's salary and instead compensate the officer by offering addtional stock options and grants. This move is not entirely unheard of since Google's co-founders Larry Page and Sergey Brin and CEO Eric Schmidt all are in the same boat. Though, the sizable salary cut has shock factor but it might be a blessing from an income tax standpoint.
Is the $1 salary a new status symbol among top executives?