Interim CEO Levinsohn bids Good-Bye to Yahoo!

Interim CEO Levinsohn bids Good-Bye to Yahoo!

By SiliconIndia   |   Tuesday, 31 July 2012, 08:22 Hrs   |    1 Comments
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Bangalore: Ross Levinsohn, who took over as interim CEO of Yahoo! after Scott Thompson’s departure, was considered to hold the position permanently. But Yahoo! appointed Marissa Mayer, to everyone’s surprise.

And now, it’s time for Yahoo! to bid good-bye to another executive as Levinsohn leaves the company on 31st July, according to Yahoo’s official regulatory documents. According to a report by New York Times, Levinsohn sent an e-mail to friends confirming his departure without mentioning his next step.

Since Levinsohn’s departure is classified as “termination without cause”, he will get a cash payment equal to his annual base salary, his target annual bonus and his stock awards and options.

Not happy with this move, a Yahoo! executive said in an article, “That would have been the best-case scenario--Ross is great at running businesses and delivering value to shareholders and Marissa is a product visionary--together those two could be a powerful combination”.

In the separation agreement signed by Marissa Mayer, it is written “I wish you good luck in your future endeavors.” Considering his strong executive background and the respect he has earned in the tech and media world, it will be interesting to see what those endeavors are.

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Reader's comments(1)
1: This is the 6th time a CEO has quit Yahoo in the last 5 years. Hope Marissa Mayer stays for long.
Posted by:Deepak - 31 Jul, 2012