Ross Levinsohn(pictured),Yahoo's global media head,has left the company after losing out on the CEO job to former Google executive Marissa Mayer.
Yahoo's global media head acted as Interim CEO after Scott Thompson quit as the company's chief in May when it was widely reported that there were inaccuracies in his CV.
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Levinsohn joined Yahoo as executive vice president,Americas in 2010 and was reported to be the favourite for the CEO role,but in a surprise move,Yahoo turned to Mayer instead.
According to Reuters,Levinsohn will leave the company effective on 31 July.He will be entitled to severance payments outlined in his 2010 contract and 2011 severance agreement in addition to an equity award of 67,000 restricted stock units and 250,000 stock options worth about$5m(£3.1m).
Levinsohn was widely tipped to be Yahoo's fifth CEO in five years,a role that Mayer now fills.She is tasked with leveraging Yahoo's 700 million monthly users worldwide and turning Yahoo into technology force once again.
Mayer is due to give birth later this year,but has declared her intention to take only a few weeks of maternity leave,and to work through the period.