Yahoo to pay CFO $1.8 million when he leaves position

Posted on May 26, 2009

 

Yahoo! has revealed that they’re going to pay their chief financial officer $1.8 million in severance when he departs his position with the firm later this year. The departing CFO, Blake Jorgensen, is also to receive paid medical insurance from Yahoo for up to 12 months.

Six weeks after Carol Bartz became the chief executive of Yahoo, the decision was announced to replace Jorgensen. Jorgensen is expected to depart Yahoo by the end of June, if a new CFO has been found. Jorgensen could remain at Yahoo until September.

The huge severance payment that Jorgensen will receive is more than three times the $500,000 salary.

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