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Yahoo to pay CFO $1.8 million in severance

Fri May 22, 2009 7:23pm EDT

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SAN FRANCISCO, May 22 (Reuters) - Yahoo Inc (YHOO.O) will pay its chief financial officer $1.8 million in severance and provide up to a year's worth of medical benefits when he leaves the company, according to a regulatory filing on Friday.

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CFO Blake Jorgensen's last day will be between June 30 and Sept. 1, the filing said. The U.S. Internet company has said it is seeking a replacement.

The announcement of Jorgensen's departure came seven weeks after the appointment in January of Chief Executive Carol Bartz, who has sought to staunch Yahoo's loss of market share in search advertising and counter the impact of the recession on ad sales through cost cuts. (Reporting by Clare Baldwin; Editing by Richard Chang)

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