Ross Levinsohn bids farewell to Yahoo after losing the top spot to Marissa Mayer

After the Scott Thompson firing, Levinsohn was considered the strongest candidate to be the CEO

Yahoo, Inc.’s former interim CEO Ross Levinsohn resigned from the company, effective immediately. The news was confirmed by Yahoo spokesperson on Monday.

“Ross has done a terrific job during his time at Yahoo,” the spokesperson said. “We wish him all the best.”

All Things D, a technology-related news portal and an accredited source on such matters, reported the Levinsohn resignation a while before Yahoo’s confirmation.

Levinsohn was made the interim CEO of the company after Scott Thompson was forced to leave the office in May. Thompson was accused and later indicted of resume hampering. The confirmation of his crime led to his firing and more controversy to Yahoo.

Levinsohn took charge as the interim leader of the company in June and, though the board was looking for a permanent CEO, was a strong candidate for the position.

However, to everybody’s surprise, the BOD selected Google’s Marissa Mayer as the captain of the beleaguering ship. The Executive Vice President at Google was first contacted in May and in the first week of July was confirmed for the position.

On the other hand, even not being the top position holder at Yahoo, Levinsohn milked the company substantially well. In the month-long service as the interim CEO, Levinsohn was given an additional 67,000 shares of restricted stock and 250,000 new stock options priced at $15.80 as a part of his special salary. The new stock is priced at Yahoo’s stock-close on July 26.

Levinsohn has a strong probability of landing a top job within no time. The seasoned executive joined Yahoo in 2010 as executive vice president of the Americas division and climbed up the ladder fast. Later that year, he headed the Global Media group.

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Posted by Usman Khalid on Jul 31 2012. Filed under Sci-Tech. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.