Yahoo is in the throes of a management shakeup having acquired a new CEO. One of the oddities is that the current CFO seems to have discovered his demise via an 8K SEC filing? –
Yahoo! has told the world that chief financial officer Blake Jorgensen is leaving the company. The struggling web portal announced the news this morning with an SEC filing.
The announcement comes less than a day after Jorgensen told an investor conference that Yahoo! had not ruled out the possibility of striking some sort of internet-search pact with Steve Ballmer and Microsoft.
“We want to do it for the right reasons and the right economics,” he said, according to Bloomberg.
Earlier this week, reports indicated that new CEO Carol Bartz was preparing to reorganize the company’s management structure. And this morning, Bartz announced the reorg with a blog post this morning – though she did not mention Jorgensen’s departure.
But there is an even odder bit in my view –
Details were few, but she did announce the creation of a new Customer Advocacy group. “After getting a lot of angry calls at my office from frustrated customers, I realized we could do a better job of listening to and supporting you. Our Customer Care team does an incredible job with the amazing number of people who come to them, but they need better resources. So we’re investing in that. After all, you deserve the very best.
“We’re also leaning on this team to make sure we’re all hearing the voice of our customers (consumers and advertisers).”
Now in most cases that translates to ‘customer damage control’. I would find it a very un-novel way to reach out to the customer base and see where improvements need to be made. Generally that kind of fact finding is done by the CEO themselves their first year in tenure. Carol better hit the online video conferencing circuit NOW.
If you are one of those folks who still use Yahoo Briefcase Service you might want to check for a different solution. Come March Yahoo is discontinuing the service. Lots of alternatives, just pick one….
A Yahoo! spokeswoman confirms the service will retire from this world on the last day of March. “[Briefcase] was launched nearly 10 years ago and usage has been significantly declining over the years,” she tells us. “Users outgrew the need for the service and turned to offerings with much more storage and enhanced sharing capabilities, e.g. Yahoo! Mail and Flickr. Discontinuing the service allows us to focus our efforts on more broadly used products, in line with our commitment to deliver the best possible user experience.”
As that online death notice explains, users must remove their online files by March 30 or they will vanish forever. It shouldn’t take long to remove them. The Briefcase tops out at 30MB.
A fast alternative? Use Gmail and GSpace web tool. You can get 4-6Gb depending on where you served by Google. Quick easy and reasonably secure.
Best of luck to Yahoo’s new CEO, Carol Bartz. She’s got quite a history of accomplishment, and not many with her track record would be interested in the minefield that surely awaits her at Yahoo.
Yahoo! Inc. (NASDAQ:YHOO), a leading global brand and one of the world’s most trafficked Internet destinations, announced today that Carol Bartz, a veteran technology executive who was most recently Executive Chairman of Autodesk (NASDAQ: ADSK), has been named Chief Executive Officer and a member of the Board of Directors, effective immediately.
Prior to becoming Executive Chairman of Autodesk in 2006, Bartz, 60, led Autodesk as CEO for 14 years, transforming the company into a leader in computer-aided design software. During her tenure as CEO, revenues increased from less than $300 million to more than $1.5 billion, and the company’s share price increased nearly ten-fold.
In addition to turning around Autodesk, Bartz’s extensive executive experience includes hands-on responsibility for leading global operations, engineering, sales and marketing organizations for large technology and engineering companies including Sun Microsystems, Digital Equipment Corporation and 3M. (Yahoo Press Release)
If Yahoo were in a more mature business, no one would be complaining about their lack of direction. Unfortunately for it’s past CEO’s, investors wanted a Yahoo that performs like a Google. The problem with that there is only one Google and to outdo them, you have to do something very different instead of all the “me too” that the big fund managers have demanded of the past CEO’s.
If allowed the latitude to take Yahoo in the direction it needs to go, Ms Bartz still has to be able to steer the good ship Yahoo. Unfortately it’s a leaky ship without a rudder. To the plus side, it’s the #2 web destination in the world, has a large stable of active user communities, and lost of revenue. What it has always lacked is cohesive direction. It’s fine tofocus on fixing leaks, but the ship also to have direction if it’s going anywhere. Hopefully Carol Bartz will give the company direction and manage to navigate the minefiled long enough to gain the confidence of the big investors.
Yahoo is to deliver a nice lump of coal to about 1500 employees this Wednesday. Yet again I never understand. If you know you have to cut, why not do it in June rather than December and save half of an employee salary. Fact that half year saved can get applied to the termination write down costs. –
The massive layoffs that Yahoo!’s departing CEO Jerry Yang warned about in October will reportedly hit the search firm’s employees Wednesday morning.
A report on Dow Jones’ All Things Digital claims the planned Yahoo! worker-decimation scheme will arrive tomorrow with further cuts on the way.
Yang said during the company’s Q3 earnings call in October that Yahoo! would jettison at least 10 per cent of its workforce by the end of the year, affecting about 1,500 positions.
I wish all the employees affected good luck on their future.
They say Lions eat regular but vultures never get injured. Personally I don’t know as I have never been on safari. But rumor has it that Microsoft has launched another safari on Yahoo. With the former CEO out of the way this could be a real possibility now. —
SOFTWARE giant Microsoft is in talks to acquire Yahoo’s online search business for $20 billion (£13 billion).
The proposal forms the centrepiece of a complex transaction that would see Microsoft support a new management team to take control of Yahoo. But there is no intention of Microsoft tabling another takeover bid for the web giant, after its aborted $47.5 billion offer this summer.
It is thought that Jonathan Miller, ex-chairman and chief executive of AOL, and Ross Levinsohn, a former president of Fox Interactive Media, have been lined up to lead the new management team. Senior directors at Microsoft and Yahoo are understood to have agreed the broad terms of a deal, but there is no guarantee that it will succeed.
What is interesting about this deal is its only for Yahoo’s search component, not the whole company. That begs the question, of what is wrong with Microsofts MSN, LiveSearch efforts? I also wonder if Microsoft believes that it must reach some critical presence level to compete with Google. A Yahoo acquisition being their only way of increasing that presence.
It might work, but I doubt it. More likely the Yahoo crowd will just go to Google.
[Update]: Well Yahoo is denying there is any deal in the works –
Nov. 30 (Bloomberg) — Yahoo! Inc. isn’t planning to sell its Internet search business to a group of investors backed by Microsoft Corp., people familiar with the situation said today, denying a report in the Sunday Times of London.
The Times said Microsoft Corp. is backing a new management team to take control of Yahoo’s search unit following its failed takeover attempt. There are no plans to sell the business, people familiar with the matter told Bloomberg News.
Microsoft, the world’s biggest software maker, has been seeking ways to revive its online advertising business as the global recession stifles spending and Google Inc. wins more search users.
Which probably means that there is a deal in the works. Microsoft would not want a run up in the stock to keep costs down.
I you are surprised Jerry Yang is stepping down from his CEO role at Yahoo, you probably still believe in the tooth fairy. Yang returned to the role to breathe new life into the company whose biggest problem is that of always being compared to Google. What you will not often read is that Yahoo is the second most trafficed site in America and number one in some nations like Taiwan. That is accomplishment any other internet property would kill for. What Yahoo has not done well as well as Google is search – both in raw search results and monetizing them. I think Yahoo could do better here, but not in the space of weeks or months. The job will take years. The company needs someone who can address this to grow, and anyone trying to do a quick fix for the quarterly return will fail. The company also needs to do a better job of monetizing it’s dizzying array of offerings and services. It’s always possible Yahoo could out earn Google even if they never catch them in search.
Was Yang or his predecessor the right person to task with correcting course for Yahoo? No! Nor is Jerry Yang really leaving, he’s just changing roles. Changes need to go much deeper into the company, and the head of the company needs to define and better articulate the company’s mission. That’s something that has been lacking at Yahoo for a very long time.
Jerry Yang, after a tumultuous reign as the chief executive officer of Yahoo, the company he co-founded with David Filo, announced today that he is stepping down from the top slot. The news was first reported by Kara Swisher and later confirmed by Yahoo in a press release. He is going to make way for someone else, but will stay on the board of Yahoo and will be known as Chief Yahoo. (GigaOm)