SAN FRANCISCO (AP) -- Clothing maker Levi Strauss & Co. says it will hire Yahoo Inc.'s Blake Jorgensen as chief financial officer and executive vice president.
Jorgensen is currently CFO of the Sunnyvale-based Internet company. Yahoo in February said the 49-year-old Jorgensen would be replaced.
Yahoo will give Jorgensen a severance payment of $1.8 million -- more than triple his salary.
Before joining Yahoo, Jorgensen co-founded investment bank Thomas Weisel Partners in 1998, where he served as chief operating officer, co-director of investment banking and a member of the executive committee.
Jorgensen is taking over the CFO post from Heidi Manes, Levi Strauss's vice president and controller. Manes has served as interim CFO for the past nine months.