Yahoo Loses Another CEO (Not Marissa Mayer)
Earlier this month, long-time Googler Marissa Mayer assumed the role of Yahoo CEO, a position that many thought would go to Ross Levinsohn, who took over as interim CEO following the departure of Scott Thompson earlier this year.
Levinsohn is actually now leaving the company. Kara Swisher at All Things D broke the news, and shared regulatory documents about it, as well as a leaked internal memo from Mayer.
Mayer said, “Ross has been an important and powerful contributor at Yahoo since he joined in 2010. During May and June, Ross stepped into an incredibly tough role as interim CEO and did a terffic job — he really helped keep the company moving, closed important deals, and assembled a very talented team. I am very grateful to Ross for his leadership and work throughout his tenure at Yahoo. His contributions will be missed.”
Levinsohn will no longer be part of Yahoo after today. As he leaves, he is getting 67,000 shares of the company, 250,000 stock options at $15.80, a cash severance that equals a year’s salary, and his target annual bonus. Last year, his salary was $1.2 million, and the bonus was about $3 million). On top of that, as Search Engine Land notes, Yahoo has agreed to a year of accelerated vesting of his past equity awards.
In other Yahoo news, the company’s browser Axis (launched under Levinsohn), just got some updates for iOS.
Image: AllThingsD Video (YouTube)