It appears you have not yet registered with our community. To register please click here...

 
Go Back [M] > Madshrimps > WebNews
Yahoo shareholders want CEO sacked Yahoo shareholders want CEO sacked
Register FAQ Members List Calendar Search Today's Posts Mark Forums Read


Yahoo shareholders want CEO sacked
Reply
 
Thread Tools
Old 11th May 2012, 08:43   #1
[M] Reviewer
 
Stefan Mileschin's Avatar
 
Join Date: May 2010
Location: Romania
Posts: 47,917
Stefan Mileschin Freshly Registered
Default Yahoo shareholders want CEO sacked

Yahoo's largest shareholder thinks it would be best for the company if CEO Scott Thompson was replaced by a temp and is trying to whip up a mob to storm the company board room and drag him off for an appointment with Madame Guillotine.

Third Point, an activist hedge fund, has been making much hay out of the fact that it found Scott Thompson CV had references to a computer science degree he never got.

It thinks that Yahoo should make its finance chief or head of media the interim chief executive because of the controversy it created.

Third Point is waging a bitter proxy battle against Yahoo's board and repeated its demand that Yahoo fire Thompson and install four of its hand-picked director candidates to the board.

Yahoo's board appointed a special committee to investigate Thompson's background and review the "facts and circumstances" surrounding his hiring.

The company has admitted that Thompson does not have a computer science degree despite what was stated in his official company biography and in regulatory filings with the U.S. Securities and Exchange Commission.

His former boss, eBay's CEO John Donahoe told Reuters that he hoped Thompson would "get through this," and that he was "Scott's biggest fan."

Donahoe said that eBay's regulatory filings when the company hired Thompson were accurate.

Third Point CEO Dan Loeb slammed Yahoo's board for not taking any "decisive action" in the six days since the discrepancy in Thompson's educational background was revealed.

He said that Yahoo should appoint Chief Financial Officer Tim Morse or Ross Levinsohn, Yahoo's head of global media, to the role of interim CEO. Meanwhile one of his minions could find a new permanent CEO.

http://news.techeye.net/business/yah...ant-ceo-sacked
Stefan Mileschin is offline   Reply With Quote
Reply


Similar Threads
Thread Thread Starter Forum Replies Last Post
Yahoo CEO apologises for padded CV Stefan Mileschin WebNews 0 9th May 2012 09:22
Yahoo To Lay Off Another 2,000 Employees Stefan Mileschin WebNews 0 5th April 2012 08:18
New Yahoo CEO Set To Layoff Thousands Stefan Mileschin WebNews 0 7th March 2012 07:24
Bing beats Yahoo Stefan Mileschin WebNews 0 16th January 2012 08:17
Now Google Wants a Piece of the Yahoo Pie Stefan Mileschin WebNews 0 24th October 2011 08:21
Former Yahoo CEO plans buy out Stefan Mileschin WebNews 0 11th October 2011 07:43
AMD and ATI to ask shareholders for merger approval jmke WebNews 0 21st July 2006 22:33

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are Off


All times are GMT +1. The time now is 01:15.


Powered by vBulletin® - Copyright ©2000 - 2014, Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO