Yahoo not to pay severance package to ex-CEO Scott Thompson
Washington, May 15 (ANI): Embattled Internet firm Yahoo has announced that it would not give former Chief Executive Scott Thompson a severance package following his short tenure with the company.
The firm disclosed in a regulatory filing on Monday that it isn't paying Thompson anything more.
Thompson recently resigned after a controversy over a fake computer science college degree on his biography broke out.
According to CBS News, he will keep a 1.5 million-dollar bonus and restricted stock valued at 5.5 million dollars that Yahoo paid him when he joined the company to compensate him for benefits he gave up leaving his job at PayPal.
Thompson was getting an annual salary of 1 million dollars at Yahoo and could have gotten a bonus of up to 2 million dollars this year.
Meanwhile, the departure is a victory for one of Yahoo's largest shareholder Third Point, which brought the discrepancy in Thompson's educational background to light. (ANI)
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