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Yahoo chief Marissa Mayer (Magnus Höij / Flickr Creative Commons)

Yahoo announced Wednesday that its general counsel had resigned and that CEO Marissa Mayer would get no bonus for 2016 and forgo any stock awards this year as a result of the company's handling of a 2014 security breach.

Ronald Bell stepped down as of Wednesday as general counsel and won't receive any severance, Yahoo said in a regulatory filing.

From Mayer's statement: "I am the CEO of the company and ... this incident happened during my tenure. I have expressed my desire that my bonus be redistributed to our company's hardworking employees."

The context: Last week, Yahoo said it was cutting the amount Verizon will pay to acquire the bulk of Yahoo's operations by $350 million and that current Yahoo shareholders and Verizon would split the legal liability for the massive breach.

Go deeper

Updated 54 mins ago - Politics & Policy

U.S. faces urgent anti-hacker crisis

Illustration: Allie Carl/Axios

The Biden administration is accelerating efforts to fill nearly 600,000 vacant cybersecurity positions in the public and private sectors bogging down efforts to protect digital infrastructure.

Why it matters: Following a deluge of ransomware attacks targeting critical government and corporate infrastructure this year, clogs in the talent pipeline are leaving federal, cash-strapped local governments and Big Business even more susceptible to hacking.

Mike Allen, author of AM
6 hours ago - World

Courage vs. coddling with China

Peng Shuai of China serves during the China Open in Beijing in 2017. Photo: Andy Wong/AP

The women's professional tennis tour suspended tournaments in China Wednesday out of concern for Peng Shuai, on the same day that a top business voice made excuses for Beijing.

Why it matters: Ahead of February's Winter Olympics in Beijing, some sports figures are taking on the regime — while Big Business shrinks from confrontation with the world's second-largest economy.

6 hours ago - Sports

What to know about the first MLB lockout since 1995

Illustration: Shoshana Gordon/Axios

Hope you enjoyed the recent flurry of free-agent activity, because it's likely the last non-lockout-related MLB news for a while.

Driving the news: The owners locked out the players after the collective bargaining agreement expired at midnight last night, leading to MLB's ninth work stoppage — and first since 1995.