Yahoo admitted on Wednesday that senior executives knew in 2014 about a hack by a state-sponsored attacker, before it entered a $4.8bn deal with Verizon last summer.
Marissa Mayer, Yahoo chief executive, said she would forgo a target bonus for 2016 of $2m and at least $12m in equity awards because senior executives had failed to take appropriate action under her tenure. She hopes the bonus will be distributed to employees.
Ronald S Bell, Yahoo’s general counsel and secretary, resigned without any pay-offs with effect from Wednesday. Mr Bell had been a lawyer for Yahoo since 1999, when he joined from Apple.