Internet major Yahoo's board of directors met on Friday to discuss Microsoft's takeover offer and to consider the option of a deal with Time Warner's AOL.The meeting follows a series of developments this week, which saw software major Microsoft threatening the internet giant with hostile takeover unless it accepts the deal within three weeks and Yahoo once again declining the offer.
Yahoo!'s fired chief executive officer Carol Bartz blasted the online media company's board of directors in a no-holds-barred interview with Fortune magazine, calling the people who fired her 'doofuses'.
Thompson, who was hired as CEO in January, will be replaced by Ross Levinsohn.
In a letter to shareholders late night, Bostock and three other directors -- Vyomesh Joshi, Arthur Kern and Gary Wilson -- have volunteered not to stand for re-election to the company's board.
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.
Yahoo! has rejected billionaire investor Carl C. Icahn's accusations that the Internet company's board of directors had acted irrationally in what he called the "botched" merger negotiations with the Microsoft.
Their move follows an activist campaign by hedge fund Starboard Value LP, which is pushing Yahoo to consider a deal with AOL and unlock Yahoo's valuable stakes in Asian Web companies.
Buffett had said in a CNBC interviewthat Yahoo's business had deteriorated significantly and that "something has to change there."
Internet company Yahoo!'s co-founder Jerry Yang has quit the company he founded 17 years ago.
Arun Sarin, who recently retired as the Vodafone group CEO, is being considered for the post of chief executive of internet major Yahoo! Inc, the Wall Street Journal says.
Yahoo!'s current CFO, Blake Jorgensen announced his plans to leave the firm in February, just weeks after Carol Bartz took over the reins of the internet entity. Morse would be paid a salary of $500,000 and a 'sign-on bonus' of $500,000, according to Yahoo!'s regulatory filing with the Securities and Exchange Commission.
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.
It named chief financial officer Tim Morse as interim chief executive.
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.
The lawsuit outlined years of institutionalized gender discrimination, claiming travel conditions, medical personnel, promotion of games and training are less favorable for female players, who have won the World Cup four times, than for their male counterparts.
Email providers can stop spoof emails impersonating them from reaching their customer's inbox or junk/bulk folder by enabling DMARC, says Venkata Satish Guttula.
Aditya Bhushan Dwivedi profiles Amitava Ghosh the chief technology officer at TaxiForSure.
An initiative to fund the education of bright Indian youngsters undertaken by two Indian-Americans has now acquired a momentum of its own, discovers Anjuli Bhargava.
Women have been and continue to be an integral part of Tata Global Beverages' business, across the world, says Cyrus Mistry.
Bringing in people with large corporate experience also helps in bringing in world class processes in quality and compliance
The richest self-made woman in America is Diane Hendricks, the owner of ABC Supply.
New Google CEO Sundar Pichai made ascent with low-key style and technical chops.
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