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Yahoo interim chief executive quits after pass over

Published on Jul 31, 2012 8:16 AM

SAN FRANCISCO (AFP) - Yahoo! on Monday announced the departure of Ross Levinsohn, who served as interim chief executive and was seen as a favourite for the top job before the firm named Marissa Mayer to the post.

Regulatory documents indicated Mr Levinsohn would leave with an 'equity award' including 67,000 restricted stock units and 250,000 stock options. He will also get severance benefits for termination 'without cause.'

The total value of his package was not immediately clear but it was likely to be worth several million dollars, news reports said.

'Ross has done a terrific job during his time at Yahoo!,' a company spokesman said. 'We wish him all the best.' Mr Levinsohn took the helm at Yahoo! in May after Scott Thompson was ousted as CEO over an inflated resume.

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