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.