Yahoo COO didn't get `pink slip'

ROSENSWEIG LEFT AFTER HELPING PLAN SHAKE-UP

By Chris O'Brien
Mercury News

Last week's Insiders column noted that Yahoo chief operating officer Daniel Rosensweig ``got the pink slip.'' Not true, according to members of the Yahoo PR team.

A Yahoo spokesperson elaborated on Rosensweig's departure in an e-mail:

``Dan was asked to renew his long-term commitment to Yahoo as one of the leaders of the company,'' the spokesperson wrote. ``After five years, he made a personal decision not to renew a long-term contract, and to leave. He worked closely with the management team over the past few months on the new structure to align Yahoo for future growth.''

In other words, Rosensweig helped chart the recently announced Yahoo management reorganization but declined an offer to stick around. The company spokesperson said Rosensweig's responsibilities would not have been diminished under the new regime.

Still, Rosensweig's decision to leave comes just six months after he negotiated a four-year deal designed to keep him at the company through 2009. By leaving, Rosensweig is walking away from $500,000 in annual salary; a potential annual bonus of up to $1 million; and 2.1 million stock options with a strike price of $31.59 that vest over four years -- but only as long as he works at Yahoo.

After deciding to leave, Rosensweig and Yahoo negotiated a separation agreement. Terms were disclosed in a Dec. 8 filing Yahoo made with the U.S. Securities and Exchange Commission:

Read more here.