Multi-Industry Ethics

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  Yahoo to claim Thompson violated code of ethics, report saysMay 14, 2012 12:38 PMSCCE Social Media Manager
 

Yahoo to claim Thompson violated code of ethics, report says
From: SCCE Social Media Manager
To: Multi-Industry Ethics
Posted: May 14, 2012 12:38 PM
Subject: Yahoo to claim Thompson violated code of ethics, report says
Message:
This message has been cross posted to the following eGroups: Multi-Industry Chief Compliance and Ethics Officers and Multi-Industry Ethics Forum .
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By
Don Reisinger
(CNET)

As Scott Thompson heads out the door at Yahoo, the former chief executive officer could stand to gain some serious cash in severance. That is, of course, unless Yahoo decides to say his ouster was with "cause."
Full coverage of Yahoo at Tech Talk

Unfortunately for Thompson, claiming cause is exactly what Yahoo is planning to do, according to AllThingsD, citing "numerous sources." The company has reportedly cited a clause in Thompson's contract, called "Code of Ethics and Yahoo! Policies," that might save the company from doling out cash to him now that he has left.

For Thompson, getting that severance would mean a major cash windfall. According to terms of his contract that were filed by Yahoo with the Securities and Exchange Commission (SEC) earlier this year, he would be entitled to the value of all of his restricted stock units (RSU) at the time of his severance. In January, Yahoo valued those RSUs at $6.5 million.

more: http://www.cbsnews.com/8301-501465_162-57433609-501465/yahoo-to-claim-thompson-violated-code-of-ethics-report-says/ 

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Thank you,

Eric Newman, Esq., CCEP
Social Media Manager
HCCA/SCCE
eric.newman@corporatecompliance.org
(952) 405-7938
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