Printed from http://www.electronista.com

Yahoo interim CEO Levinsohn departing company

updated 09:10 pm EDT, Mon July 30, 2012

Levinsohn expected to be named to the position permanently

Following a weekend of rumors, former interim CEO Ross Levinsohn has confirmed that he is leaving Yahoo after not being named for the permanent position. Levinsohn's announcement comes just two weeks after former Google executive Marissa Mayer was appointed as Yahoo CEO and president. Yahoo's last full-time chief executive, Scott Thompson, left in May with controversy swirling about resume educational discrepancies.

Levinsohn had allegedly been telling candidates for senior positions within Yahoo that he would be the chief executive. According to reports, Yahoo employees were hoping that Levinsohn would stay with the company in some capacity and help guide the company.

Over the weekend, Levinsohn emailed: "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."

The ex-interim CEO is departing with $5 million in vested stock options, plus 175,000 restricted stock units. A one-time payment of $1.4 million will be given to Levinsohn as well, in accordance with his 2010 offer letter, and 2011 severance agreement. After a stint as head of Fox Interactive Media, Levinsohn joined Yahoo in 2010 as executive vice president of the Americas.



By Electronista Staff
Post tools:

TAGS :

toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

Sponsor

Recent Reviews

IDrive cloud backup and sync service

There are a lot of cloud services out there, and nearly all of them can be used for backing up key files and folders. A few dedicated ...

Asus Chromebook C300

When Chromebooks hit the market back in 2011, consumers didn't know what to do with them. The low-cost laptops, powered by Google's Ch ...

Plantronics BackBeat Pro Bluetooth headphones

Looking for a pair of headphones that can do everything a user requires is a task that can take some study. Trying to decide on in-ear ...

Sponsor

toggle

Most Commented

 
toggle

Popular News