TweakTown
Tech content trusted by users in North America and around the world
5,676 Reviews & Articles | 36,074 News Posts
Weekly Giveaway: Fractal Design Arc Cases Contest (Global Entry!)

Yahoo's interim CEO, Ross Levinsohn, leaves the company

Ross Levinsohn, interim CEO of Yahoo, leaves

| Business, Financial & Legal News | Posted: Jul 31, 2012 9:25 am

Yahoo have been in the news quite a lot lately, for all the right reasons, with ex-Google exec Marissa Mayer appointed the new CEO and president of the company. But, interim CEO, Ross Levinsohn has confirmed that he's leaving the company after not being named for the permanent position.

 

TweakTown image news/2/5/25081_08_yahoo_s_interim_ceo_ross_levinsohn_leaves_the_company.jpg

 

Levinsohn had allegedly been telling candidates for senior positions that he would be the next CEO, and according to reports, Yahoo employees were hoping that he would stay on with the company in some capacity, as well as help guide the company itself. But, over the weekend, Levinsohn e-mailed, saying:

 

I wanted to let you know that my time at Yahoo has come to an end. It has been an incredible journey for me and I could not be prouder of what we accomplished over the past few years helping define Yahoo as a leader in digital media and advertising. Yahoo is an amazing brand and company, and I leave knowing we did all we could to help inform and entertain more than 700 million users each month. Leading this company has been one of the best experiences of my career, but it is time for me to look for the next challenge.

 

Levinsohn doesn't leave empty handed, as he will receive $5 million in vested stock options, as well as 175,000 restricted stock units. He'll also receive a one-time payment of $1.4 million, which is in accordance with his 2010 offer letter, and 2011 severance agreement.

NEWS SOURCES
Electronista.com, Technobuffalo.com

Related Tags

Further Reading: Read and find more Business, Financial & Legal news at our Business, Financial & Legal news index page.

Do you get our news RSS feed? Get It!

Post a Comment about this news

Latest Tech News Posts

View More News Posts

Latest Downloads

View More Latest Downloads

TweakTown Web Poll

Question: Did EA kill the Battlefield franchise with the terrible BF4 issues?

Yes, Battlefield is doomed

No, Battlefield will live on strong

I'm not sure, but I know EA needs to improve its game

or View the Results

View More Polls

Forum Activity

View More Forum Posts

Press Releases

View More Press Releases
Get TweakTown updates via Facebook!
Just click the "Like" button below