Yahoo began closing ranks behind its abruptly reshuffled leadership team on Monday, but stayed mum on how it would proceed after firing its second CEO in the past eight months.
The Sunnyvale Internet giant, which fired CEO Scott Thompson on Sunday after he was revealed to have falsely claimed he earned a computer science degree, filed formal notice of the separation Monday with the Securities and Exchange Commission.
The filing revealed that Thompson, who was earning an annual salary of $1 million, will not receive severance pay for his five months at the helm of the 12,000-person company. But he will receive cash and stock given him to compensate for money he gave up this year when he left eBay, where he was in charge of the PayPal division.
The Sunnyvale Internet giant, which fired CEO Scott Thompson on Sunday after he was revealed to have falsely claimed he earned a computer science degree, filed formal notice of the separation Monday with the Securities and Exchange Commission.
The filing revealed that Thompson, who was earning an annual salary of $1 million, will not receive severance pay for his five months at the helm of the 12,000-person company. But he will receive cash and stock given him to compensate for money he gave up this year when he left eBay, where he was in charge of the PayPal division.
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