Ousted Yahoo CEO Scott Thompson's parachute is made of cloth, not gold (NO severance package)

[Amerigo Vespucci]

Ousted Yahoo CEO won't be getting any severance
By CNBC.com staff

http://marketday.msnbc.msn.com/_news/2012/05/14/11703338-ousted-yahoo-ceo-wont-be-getting-any-severance?lite

Scott Thompson won't get severance compensation after leaving as Yahoo's CEO in a scandal about his resume, according to a filing.

The filing also said Yahoo agreed to appoint activist investor Daniel S. Loeb, Michael J. Wolf and Harry J. Wilson to the board, effective Wednesday.

Loeb and his hedge fund, Third Point, pressed for Thompson's ouster after a discrepancy about Thompson's education background had been revealed.

The filing, released Monday, was part of a settlement between Yahoo and Third Point, its largest shareholder.

[markpkessinger]

1. Right -- they only give you a golden parachute when you run a company into the ground! n/t

[Jackpine Radical]

2. What did he do wrong? After all,

he lied, he cheated, he did everything a CEO is supposed to.

[Tx4obama]

3. #Yahoo CEO gets no severance but keeps $7 million of cash, stock he got in January

-snip-

... Thompson scored a nice chunk of change as a parting gift. Under the terms of his contract, Yahoo could have required him to give back $7 million of the cash and stock he received after taking the helm in January.

But Yahoo (YHOO, Fortune 500) said late Monday that its separation agreement with Thompson allows him to keep those payments.

-snip-

http://money.cnn.com/2012/05/14/technology/yahoo-ceo-no-severance/index.htm


SEVEN MILLION for 4 months of work is pretty damn good - and ridiculous!.