Yahoo’s Good-Bye Gift To Exec Jorgensen: $1.8 Million

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Yahoo’s Good-Bye Gift To Exec Jorgensen: $1.8 Million

Blake Jorgensen was the CFO at Yahoo (NSDQ: YHOO) during two of its most tumultuous years; now we some know some of the financial details of his exit. The company said in an SEC filing that it would give Jorgensen a $1.8 million severance payment when he leaves the company likely at the end of June. Yahoo announced Jorgensen was leaving in February, as part of a management reorganization instituted by new CEO Carol Bartz. During the company’s most recent earnings call, Bartz said Yahoo was still searching for a replacement. The value of Jorgensen’s total compensation package last year, including stock awards and options, was $2.9 million.

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Joseph Tartakoff

@josephtartakoff May 22, 2009 4:17 PM ET

Posted In: Companies, Yahoo

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Darn employment agreements.

ken

That's a huge amount of compensation! Well, Jorgensen deserves it. In the 1st place, its the management decision to do a company reorganization. They must pay for it.

jenkins

He was CFO when Yahoo turned down the Microsoft offer so he failed as an executive.

DJ

It's a lot of money considering that Yahoo wasn't doing great during his tenure. But then again, it must be part of his contract. Can't do anything about it. At least, it was disclosed. Unlike other public companies where they don't discuss/ disclose the financial part of the contract of their executives.