Yahoo! co-founder to give up CEO job after a brief, chaotic tenure.
Internet company Yahoo!'s co-founder Jerry Yang has quit the company he founded 17 years ago.
A proposed online search advertising deal between Yahoo and Google came under fire at a US Senate hearing as Microsoft claimed that Yahoo CEO Jerry Yang had himself admitted that the agreement would hurt competition.
Jerry Yang, who founded Yahoo along with David Filo in 1995, has left to "pursue other interests outside of Yahoo". Yang, who carried the designation "Chief Yahoo", exited two weeks after Scott Thompson, who used to run eBay's PayPal unit, joined as CEO.
Believe it or not, the revenues of some of the world biggest companies beat the GDP figures of several nations.
Referring to information in a shareholders' lawsuit brought against Yahoo, he said the complaint showed that Yang and a majority of the board had gone to 'inordinate lengths to sabotage a Microsoft bid". Portions of the lawsuit were unsealed by a Delaware judge on Monday, despite the objections of Yahoo attorneys. In January 2007, Yahoo had rejected Microsoft offer to purchase Yahoo at $40 per share.
The rescheduling was prompted as billionaire investor Carl Icahn upped his ante against Yang in view of the revelations that came on Monday when a Delaware judge unsealed court documents in a lawsuit filed by shareholders. The annual shareholders meeting originally slated for July 3, has been rescheduled for the third time on August 1.
Yahoo Inc. chairman Terry Semel stepped down as chief executive on Monday
The 60-year-old technology veteran has replaced the Internet major's founder and chief executive Jerry Yang. Bartz would get a base salary of $1 million and a grant of $10 million in cash and stock to compensate the benefits forfeited from the previous employer. Further, she would be paid an annual grant worth about $8 million.
The troubled Web portal's employees open up (a little) about the company's problems.
What will the board have to promise someone to take the job? Well, to start with, it will have to throw in certain financial guarantees. The pay package must have lots of incentives and protections. If it doesn't work out in six months, the person will need end up with a healthy amount of money.
The Internet major said the corrected vote tally showed that nearly 34 per cent of votes cast were withheld against Yang, more than double the originally reported figure of 15 per cent. About 40 per cent of votes were withheld from Chairman Roy Bostock - nearly twice the figure previously reported.This shareholder revolt could see a stronger call for Yang to step down. His disapproval has now dropped down to the range that former CEO Terry Semel experienced during last year.
Internet's second most popular search engine Yahoo! has said it was open to selling itself to Microsoft, but the software giant's chief executive Steven A Ballmer and his deal makers were not keen to negotiate and ultimately withdrew their proposal. Microsoft had offered to buy Yahoo, second only to Google, for $31 a share, or $44.6 billion, in February, but the search engine felt it was worth more.
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If the software giant gets tired of chasing Yahoo!, there are plenty of other ways it can spend $40 billion.
Earlier this year, Yahoo! had spurned a $47.5-billion takeover bid from the software giant. The deal was mainly opposed by its chief executive Jerry Yang. Yang who is a co-founder of Yahoo! had last month announced that he would step down as the chief executive but would remain with the firm.
The layoffs would mark the most aggressive step yet by Yahoo CEO Jerry Yang, who began a reorganisation to revive the company's fortunes after taking over from movie studio mogul Terry Semel in June 2007, the San Francisco Chronicle reported on Monday.
Google boss's absence at US-China internet forum meet raises eyebrows.
The deal will end months of uncertainty about Yahoo's future.
Taizo Son, SoftBank founder Masayoshi Son's youngest brother, is also planning to enter India.
It's debatable whether going back in time -- twice in a span of four years -- by bringing back a once-proven leader at the top is the correct thing to do when Infosys desperately needs to be made future-ready.
Yahoo Inc plans to spin off its 15 percent stake in China's Alibaba Group Holding Ltd, responding to pressure to hand over to shareholders its prized e-commerce investment valued at roughly $40 billion.
Silicon Valley is at the heart of the transformation of the global economy -- which has both winners and losers, writes Ajit Balakrishnan.
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