Story from Dow Jones News Wires
Yahoo Inc. said Friday that it will pay departing Chief Financial Officer Blake Jorgensen a $1.8 million lump-sum severance payment.In late February, the company said Mr. Jorgensen would leave the company, (Microsoft has plenty of CFOs) but remain through a transition period.
According to a filing with the Securities and Exchange Commission, his resignation will be effective June 30, or such other date between July 1 Sept. 1 as mutually agreed to by the company and Mr. Jorgensen.
Until the separation date, Mr. Jorgensen will continue to provide services, including transition services to the company. From the separation date forward, Yahoo will continue to pay his medical-coverage for up to 12 months.
