Ex! interim! CEO! leaves! Yahoo! after! second! snub!
Levinsohn departs jingling with cash
Ex-interim Yahoo! chief Ross Levinsohn is leaving the ailing web firm behind after losing out on the top spot to fragrant Googler Marissa Mayer.
The company said in a corporate filing yesterday that Levinsohn would be eating his going-away cake today and getting a tidy sum for his time at the tiller.
Levinsohn bagged 67,000 restricted stock units (RSUs) and 250,000 stock options for stepping into the breach when former CEO Scott Thompson had to leave after a CV scandal. That stock is being accelerated into stuff he can sell giving him the option of over $5m in cash if he wants it.
He has a further 175,000 RSUs already and an option to buy 400,000 shares at a price set by Yahoo!'s compensation committee if he wants. And he'll get a year's salary, his targeted annual bonus for this year and a portion of the bonus from 2013, which should keep him going for a while.
Before coming to Yahoo!, Levinsohn was managing director of investment firm Fuse Capital. During his time at the web firm, he's been the executive VP of Americas and the head of global media as well as interim CEO. ®