Latest Jerry Yang Stories
redOrbit Staff & Wire Reports – Your Universe Online Yahoo has announced they will be closing down their South Korean web portal and ending their presence in the country by the end of the year. According to Jung-Ah Lee of the Wall Street Journal, Yahoo Korea released a statement Friday saying the company's operation in that nation had faced "a lot of challenges" over the past few years, and the website's poor performance there had "slowed Yahoo's overall business growth" during...
Michael Harper for RedOrbit.com It would appear as if Third Point’s 3 letters and subsequent follow-up have strong-armed Yahoo CEO Scott Thompson into apologizing for “padding” his resume with false information, but he isn’t planning on stepping down. According to an early morning release from Reuters, Yahoo’s board met yesterday afternoon to discuss the company's mounting troubles and controversy surrounding Thompson, who has reportedly made false claims on his resume, in...
NEW YORK, March 28, 2012 /PRNewswire/ -- Third Point LLC, owners of 5.8% of Yahoo! shares, sent the following letter today to Yahoo! (NASD: YHOO) Chief Executive Officer Scott Thompson: Mr. Scott ThompsonChief Executive OfficerYahoo! Inc.701 First AvenueSunnyvale, CA 94089 March 28, 2012 Dear Scott: As we discussed, Third Point LLC ("Third Point"), Yahoo!'s largest outside shareholder, was disappointed that you and the Board of Directors did not agree to the reasonable compromise...
The head of a major Yahoo investor was critical of the Internet pioneer's recent appointees to their board of directors and is seeking to have four current board members replaced with representatives of his hedge fund, according to a letter that was released as part of a regulatory filing Wednesday. The Associated Press (AP) reported that Daniel Loeb, manager of the hedge fund Third Point, argued in a letter released as part of the filing with the Securities and Exchange Commission (SEC)...
Yahoo is preparing to lay off thousands of employees as part of a massive restructuring, the tech news website AllThingsD reported on Monday, citing multiple sources both inside and outside the company. The plan could be announced as early as this month, according to the report, and is “being aimed at Yahoo’s large products organization, as well as other arenas in which the company has lagged in.” "Some parts will be cut away, leaving resources to go to better efforts," an unnamed...
In an unexpected letter to shareholders, Yahoo chairman Roy Bostock announced Tuesday that he and his fellow board members Vyomesh Joshi, Arthuer Kern and Gary Wilson would not be seeking another term on the board this year. Bostock said that former Rovi CEO Alfred Amoroso and former LiveOps CEO Maynard Webb had been added to Yahoo’s upper management team to stand in as independent directors. The past months have been a topsy-turvy time for the wavering Web colossus. Amidst whispers...
Since Yahoo co-founder Jerry Yang announced his departure, the lifeboats appear to be lowering in what could become a mass exodus from the struggling search portal. Yang also has left the boards of Yahoo Japan and Alibaba Group, a statement from Yahoo noted. At least four other directors are expected to follow Yang from the company soon including Chairman Roy Bostock, Arthur Kern, Vyomesh Joshi, and Gary Wilson, reports Kara Swisher for All Things D. Yang co-founded Yahoo with David...
Veteran web giant Yahoo announced today that PayPal President Scott Thompson will be taking over as the company’s chief executive. In light of Yahoo’s struggle in recent years to remain a key player in the Internet world, many shareholders and company insiders are hoping that Mr. Thompson will do for their company what he did for eBay Inc’s payment branch. Mr. Thompson will be joining the Yahoo team some five months after its last controversial CEO Carol Bartz was let go, leaving...
Technology entrepreneurs and executives from leading Silicon Valley firms such as Google, Twitter, eBay and LinkedIn issued an open, strongly-worded letter opposing a controversial, anti-piracy bill being debated in Congress this week. The letter’s signatories say the Stop Online Piracy Act (SOPA), which aims to reduce the amount of pirated content on the Internet, goes too far, and could cost the U.S. many times more than it hopes to gain. SOPA is the version of the bill being...
Microsoft Corp has signed a confidentiality agreement with Yahoo Inc, allowing the software titan to secure possible negotiating power if Yahoo decides to sell part or all of its business, the Associated Press reported Wednesday, citing an anonymous source that was familiar with the matter. Microsoft is joining several private equity firms that are also scouring over Yahoo’s books and operations, exploring various options for making a deal with the struggling Internet search company....
