Ross Levinsohn lost the Yahoo CEO gig after serving as interim chief following Scott Thompson’s ouster. Now Yahoo is losing Levinsohn, as first reported by AllThingsD. Shortly after the news broke Monday afternoon, Yahoo issued a statement confirming Levinsohn’s departure.
No word yet on where Levinsohn will land, but by the looks of Yahoo’s regulatory filing, Levinsohn negotiated himself a pretty sweet parachute. He gets to cash in what would he have earned in salary for the next 12 months, plus his annual bonus and some of next year’s expected bonus. On top of that, he gets 67,000 restricted stock units and 250,000 stock options (priced at $15.80 a pop) for his stint as interim CEO. Oh, he also got Yahoo to pay for his health benefits for the next 12 months. Yahoo indeed.
In an internal memo published by AllThingsD, newly installed Yahoo CEO Marissa Mayer thanked Levinsohn for righting the ship these past couple months. “During May and June, Ross stepped into an incredibly tough role as interim CEO and did a terffic [sic] job—he really helped keep the company moving, closed important deals, and assembled a very talented team,” she wrote. Of course, it was because of the job he did in May and June that many thought Levinsohn would receive the permanent gig. Because that didn't happen, many expected Levinsohn wouldn’t stay with the company for long after Mayer’s appointment.