You are viewing the archive: “Carol Bartz”

Is Jerry Yang Trying To Block A Yahoo Sale?

By DAVID LIEBERMAN, Executive Editor | Friday November 4, 2011 @ 4:16pm PDTTags: Carol Bartz, Carol Bartz Yahoo, Jerry Yang, Wall Street Journal, Yahoo

The Wall Street Journal has struck a nerve at Yahoo with a story today that quotes several investors who say co-founder Jerry Yang is trying to reassert his power at the company by undermining the board’s effort to find a buyer. “News reports based on rumor and speculation are just that,” the company says in a statement. “Mr. Yang is one of 9 directors with the exact same fiduciary duties and motivation as all of his fellow directors — to serve the best interests of all the company’s shareholders.” The WSJ story says that as former CEO and now a major investor and board member, Yang’s ”multiple hats have raised questions both inside and outside Yahoo about whether he can act in the best interest of shareholders rather than from a desire to preserve his influence and legacy.” It quotes a letter sent today by Daniel Loeb, who manages the Third Point LLC hedge fund, a major investor in Yahoo, calling on Yang to resign. He cited Yang’s “ineptitude” in 2008 when he was CEO and rejected Microsoft’s $45B offer for Yahoo — which now has a market value of $19.2B.  Loeb said he would fight a “sweetheart” to sell Yahoo to a private equity firm. The story also quotes Peter Schoenfeld of P. Schoenfeld Asset Management LP, who says that the ”board should be focused on unlocking [Yahoo] value for all shareholders instead of protecting a small group.” Yahoo has been trying to find its way since September when it fired Carol Bartz as CEO.

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Yahoo Beats Estimates With 3Q Earnings, Sees Shares Rise After Hours

By THE DEADLINE TEAM | Tuesday October 18, 2011 @ 1:29pm PDTTags: Carol Bartz, Yahoo

Most on Wall Street expected a hot mess when Yahoo reported its third-quarter earnings after the closing bell today — and surprisingly, they didn’t get one. The struggling Internet giant kicked out CEO Carol Bartz mid-quarter and has been … Read More »

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Is AOL Boss Pitching Merger With Yahoo, Or Is He Pitching Himself?

By THE DEADLINE TEAM | Wednesday October 12, 2011 @ 8:07pm PDTTags: AOL, Carol Bartz, Tim Armstrong, Yahoo

AOL CEO Tim Armstrong is doing some behind-the-scenes pitching to major shareholders about a plan to have Yahoo acquire AOL, Reuters reported today. That he’s seeking a merger deal isn’t new, but the details are interesting: citing sources, he … Read More »

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Yahoo Outlines Sale Process In Staff Memo

By THE DEADLINE TEAM | Friday September 23, 2011 @ 10:12pm PDTTags: Carol Bartz, Jerry Yang, Roy Bostock, Yahoo

In a memo leaked today, Yahoo co-founders Jerry Yang and David Filo and chairman Roy Bostock gave employees a “next phase” update. It follows Yahoo CEO Carol Bartz being removed from her post September 6th, then rumors swirling that the board was getting closer to officially putting the company up for sale. The new memo reveals that the board of directors with management is conducting a “strategic review” and has hired investment bankers Allen & Co to help and is looking for a permanent CEO:

Dear Yahoos:

In our recent all hands meeting, we talked about the Board’s strategic review to help return the Company to a path of robust growth and industry-leading innovation. While our teams are working to evaluate the many opportunities by which Yahoo! can continue building on our success, all kinds of people have been – and will continue – speculating in the media about where that work is headed, so we thought it best to provide you with some additional context directly from those of us who are closest to it. We don’t have specific news to share with you today, but we are committed to communicating with you directly from time to time – especially given the level of external swirl – so that you know where we are in the process. You can expect periodic updates from us and we encourage you to communicate with us as well.

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Carol Bartz Steps Down From Yahoo Board

By THE DEADLINE TEAM | Sunday September 11, 2011 @ 4:38pm PDTTags: Carol Bartz, Yahoo

Ousted Yahoo CEO Carol Bartz is no longer on the company’s board of directors. Her decision to resign came several days after she was fired and replaced with CFO Tim Morse. Immediately afterward, she told … Read More »

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Bloomberg: AOL-Yahoo Merger Discussed

By THE DEADLINE TEAM | Friday September 9, 2011 @ 12:39pm PDTTags: AOL, Carol Bartz, Internet, Tim Armstrong, Yahoo

AOL YahooAOL chief executive Tim Armstrong and advisers for Yahoo are discussing combining the two companies in the wake of Carol Bartz’s ouster as Yahoo CEO, Bloomberg reports. Armstrong perhaps sees his opening now that Bartz has … Read More »

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Fortune: Yahoo Board Full Of “Doofuses”, Fired CEO Carol Bartz Says In Parting Blast

By DAVID LIEBERMAN, Executive Editor | Thursday September 8, 2011 @ 11:57am PDTTags: Carol Bartz, Carol Bartz Yahoo, Roy Bostock, Tim Morse, Yahoo

The business world would be a lot more fun if every fired CEO responded to the news the way Carol Bartz has. “These people fucked me over,” the former Yahoo chief tells Fortune in a story on the magazine’s website. Bartz says that chairman Roy Bostock dropped the ax in a Tuesday night phone call where he began by reading a statement prepared by a lawyer. “I said, ‘Roy, I think that’s a script,’ ” Bartz said, adding: ”‘Why don’t you have the balls to tell me yourself?’ ” When he was done she said, “I got it … I thought you were classier.” Bostock gave her two hours to decide if she would resign or be formally fired, and Bartz learned that Yahoo had sent lawyers to the St. Regis hotel in New York to seal the deal. She avoided them by moving to another hotel — and disclosed the news via email to Yahoo employees. Read More »

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Yahoo Ousts CEO Carol Bartz, Replaces Her With CFO And Launches Strategic Review

By THE DEADLINE TEAM | Tuesday September 6, 2011 @ 4:40pm PDTTags: Carol Bartz, Jerry Yang, Roy Bostock, Tim Morse, Yahoo

Carol Bartz has been replaced as CEO of Yahoo, the company said in a statement today. CFO Tim Morse has been appointed to the post on an interim basis after the company’s board of directors — including chairman Roy … Read More »

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