Yahoo sends CEO packing without severance package: regulatory filing


AP

SAN FRANCISCO — Yahoo ended Scott Thompson’s four-month stint as its CEO without giving him a severance package.

The struggling Internet company disclosed in a regulatory filing on Monday that it isn’t paying Thompson anything more. Thompson stepped down Sunday.

He’ll keep a US$1.5 million bonus and restricted stock valued at US$5.5 million that Yahoo paid him when he joined the company. Yahoo Inc. required Thompson to surrender unvested stock awards valued at US$16 million. Thompson was getting an annual salary of US$1 million at Yahoo.