Yahoo exec Ross Levinsohn, who lost the race for top CEO spot to Marissa Mayer, has left the company, AllThingsD reported on Monday. Don’t feel too bad for the guy, though, as Levinsohn scooped up “many million of dollars” in severance agreements following his resignation.
“Ross has done a terrific job during his time at Yahoo!,” Yahoo said. “We wish him all the best.”
Levinsohn previously held the title of interim CEO following Scott Thompson’s departure earlier this year. There, Levinsohn oversaw the American unit of the Internet company, where he was in charge “of key Yahoo businesses, including its media and advertising sales divisions,” AllThingsD said.
It’s understandable for a veteran like Levinsohn, who was briefly given the Yahoo reigns, would depart after failing to secure the job. According to the report, him and Mayer held talks about his exit for several days, and ultimately felt this was the best for both parties involved.
Following his departure, current CEO Marissa Mayer wrote a note, applauding Levinsohn’s commitment and ability to stabilize the company after being rocked by Thompson’s departure.
“During May and June, Ross stepped into an incredibly tough role as interim CEO and did a terrific job — he really helped keep the company moving, closed important deals, and assembled a very talented team,” Mayer said. “I am grateful to Ross for his leadership and work throughout his tenure at Yahoo.”