Levinsohn Leaves Yahoo (YHOO)

PUBLISHED: Jul 31 2012 @ 08:58 | Comments (0) | More info about Ed Liston

One of the leading executives of Yahoo Inc. (NASDAQ:YHOO), Ross Levinsohn has decided to call it a day.

Although, Levinsohn declined to comment over the issue, his decision to quit the internet company was widely anticipated as the Yahoo board chose to make longtime Google Inc. (NASDAQ:GOOG) executive Marissa Mayer as the company’s new CEO.

Levinsohn, who acted as Yahoo’s interim CEO following Scott Thomson’s sudden ouster in May due to mislead credentials, will be compensated with 67,000 restricted stocks units, amounting nearly $1 million along with 250,000 stocks options, having an exercise price of $15.80 each.

In addition, Levinsohn will be also offered a cash severance equivalent to his base salary, including bonuses he earned for 2012 and a part of bonus for 2013.

Prior to joining Yahoo in late 2010, Levinsohn, headed Yahoo’s media websites, including popular entertainment, sports and news sites.

He was also in charge of ad sales besides looking after some of the Yahoo’s units in Americas region, which helps generating substantial amount of company’s total revenue.

Levinsohn, an advertising and media industry stalwart, was overlooked by Yahoo’s board as it decided to hire Marissa Mayer, a computer science graduate, two weeks ago.

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