Arthur Chong, the former general counsel at US semiconductor company Broadcom, officially stepped into the role on 10th March. Yahoo revealed that Chong, who also served as an outside legal adviser to the company from October 2016 to March 2017 for monthly compensation of $100,000, has been named general counsel and secretary.

$1 million pay day

It is widely understood that Mr Chong will be paid $1million per year and operate from annually and work from the company’s San Francisco office. Following Verizon’s acquisition of Yahoo’s operating business, Mr Chong will continue as top lawyer for the remaining part of the company, Altaba.

Special adviser

Prior to working with Yahoo, Chong served as a special adviser to Sheppard Mullin Richter & Hampton. He was also executive vice president, general counsel and secretary at Broadcom for over seven years. Before that, he held legal roles at insurance company Safeco Insurance and healthcare company McKesson.