Author Topic: News about Yahoo  (Read 1513 times)


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News about Yahoo
« on: March 06, 2009, 07:30:40 AM »
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Re: News about Yahoo
« Reply #1 on: January 25, 2012, 09:15:49 AM »
Yahoo: New CEO. Same results

Yahoo on Tuesday reported quarterly results in line with analysts' expectations, a somewhat quiet start for new CEO Scott Thompson.

Yahoo posted a $296 million profit for the fourth quarter of 2011, up 5% compared to last year. Yahoo's earnings per share were 24 cents. The company's sales for the quarter came in at 1.3 billion, down 13% from last year. Excluding revenue shared with partners, sales came in at $1.17 billion, a 3% decline from last year

"In 2012 we will be aligning resources behind key areas of focus to enable us to move aggressively in market and grow our business, bringing innovative new products and experiences to both our users and advertisers," Thompson said in the earnings release.

What kind of resources and products? It's too early to tell.

"Given that we're two weeks into this, it's probably a bit early for me to articulate directionally where we're going," the new CEO said during a conference call with analysts. "We're considering a number of options and we're certainly considering ways in which we can increase the monetization of all the users."

Thompson said combing through the vast data troves Yahoo has collected on its 702 million users has been a focus for him, alluding to "interesting data-oriented products coming out sooner rather than later."

He added: "If you believe data and great technology and great technologists can begin to predict what's in a user's mind ... having that data to start from is a big advantage."

Speed is also a priority. "Those of you who know me understand I want to hear all the options," he said on the call. "But when it comes to making decisions -- I make them quickly and push to move fast, fast, fast."

It's been a tumultuous six months for the company, which has had a revolving door in its executive suite.

Most recently, Yahoo co-founder Jerry Yang resigned from the board of directors and all other positions at the company, leaving investors wondering if the company will be put up for sale. Such a move was reportedly opposed by Yang.


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Re: News about Yahoo
« Reply #2 on: May 08, 2012, 09:23:45 AM »
Yahoo CEO Scott Thompson caught padding his resume

The proxy fight between Yahoo and activist shareholder firm Third Point just got extra nasty.

Third Point came out swinging late Thursday with an allegation that Yahoo CEO Scott Thompson lied about his college degree -- and on Friday, the activist shareholder firm called for Thompson's ouster.

In a series of published biographical statements stretching back for years -- including his bio on Yahoo's website -- Thompson has said that he "holds a Bachelor's degree in accounting and computer science" from Stonehill College.

But his degree is actually only in accounting, a fact Third Point discovered and pointed out in a scathing letter to Yahoo's board of directors.

After the letter was released, Yahoo (YHOO, Fortune 500) sent out a statement saying references to Thompson earning a computer science degree were an "inadvertent error."

It's an error Thompson made repeatedly. References to Thompson's nonexistent computer science degree are featured in his bios on sites for PayPal, the eBay (EBAY, Fortune 500) subsidiary where he previously served as president.

Stonehill, a small Roman Catholic college in Massachusetts, also confirmed to CNNMoney that Thompson's only degree is in accounting.

Third Point called Yahoo's response "inadequate" in a Friday statement: "To assert that years of inaccurate SEC filings, website biographies and [more] ... were 'inadvertent' is, in our view, the height of arrogance."

Third Point wants the Yahoo board to fire Thompson for cause, and to take three other major actions by noon on Monday: Reveal the vetting process for Thompson's appointment as CEO, explain the process for nominating board directors, and disclose whether any Yahoo board members knew about Thompson's college degree inaccuracy.

Yahoo, which quickly stripped all references to Thompson's degree out of his official bio on Yahoo's website, said the error "in no way alters that fact that Mr. Thompson is a highly qualified executive with a successful track record leading large consumer technology companies."

Yahoo updated its statement late Thursday to add that its board will be reviewing the issue and will, when that probe is completed, "make an appropriate disclosure to shareholders."

Dan Loeb, the CEO of Third Point, has a long history of launching proxy fights -- and Yahoo is the latest company in his crosshairs. In February, Third Point filed paperwork proposing four new Yahoo board members, including Loeb himself.

Yahoo doesn't want to play ball, and Third Point's subsequent proxy letters have been filled with vitriol.

One choice line from Thursday's letter: "We learned that during Mr. Thompson's tenure at Stonehill only one such course was even offered -- Intro to Computer Science. Presumably, Mr. Thompson took that course."


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