Yelp Inc. CEO Stoppelman's 2013 salary is $1
Steven E.F. Brown
Web Editor- San Francisco Business Times
Yelp Inc. will pay its CEO, Jeremy Stoppelman, and its chief operating officer, Geoff Donaker, $1 each in salary for 2013.
Both men will receive hefty stock option grants, but the change is dramatic, as just two years ago each got a salary of more than $200,000.
The San Francisco restaurant review company (NYSE: YELP) hasn’t filed a proxy card yet, but the data it gave when it filed to become a public company last year show Stoppelman’s salary was $220,000 in 2009 , 2010 and 2011. Donaker’s salary was $235,000 in all three years.
Yelp’s chief financial officer, Rob Krolik, will be paid a salary of $325,000 in 2013, as will General Counsel Laurence Wilson.
Joseph Nachman, who was paid a salary of $300,000 back in 2011, is now paid in British pounds (265,718 of them), as he moved a year ago to London to help run Yelp’s operations there. (He was “seconded” to Yelp UK Ltd., using a term reminiscent of army operations. I’ve been seconded to the Arab Bureau, said T.E. Lawrence in his eponymous film.)
As part of that deal, Nachman got $35,000 in moving expenses as he left the expensive Bay Area for even dearer London. If he keeps working for Yelp for the two year term, he’ll get $9,000 to move back. He also gets four roundtrip plane tickets a year for personal use.
Earlier this week, Yelp posted a loss of $19.1 million for 2012.
Steven E.F. Brown is web editor at the San Francisco Business Times.