Thursday June 26, 10:07 PM
Yahoo reorganizes in face of rebellion and desertion
SAN FRANCISCO (AFP) - Yahoo (NASDAQ: YHOO - news) on Thursday announced a corporate overhaul in the face of stockholder rebellion and executive desertions.
Along with realigning resources into three teams reporting to company president Sue Decker, Yahoo said "cloud computing" and storage infrastructure will become priorities.
Cloud computing refers to a trend in which Internet firms such as Google (NASDAQ: GOOG - news) , Microsoft (NASDAQ: MSFT - news) , and Salesforce.com provide software programs as services that people use online instead of installing and operating on their own machines.
"These moves accelerate the ability of our deep and talented team to build great products, grow our audiences and improve monetization globally," Yahoo chief executive Jerry Yang, CEO.
The re-organization comes as Yahoo fights off an attempted coup by corporate raider Carl Icahn and watches dozens of high-ranking executives dash for the exits.
More than 50 executives, including the founders of photo-sharing website Flickr which Yahoo bought in 2005, have left the firm since Microsoft went public with a takeover offer in early February.
Microsoft offered to buy Yahoo for 44.6 billion dollars in stock and cash on January 31, but withdrew the offer on May 3, saying Yahoo refused to budge despite the software giant upping its bid to nearly 48 billion dollars.
Icahn has since snatched up more than four percent of Yahoo's stock and launched a campaign to oust the company's board members and replace them with a slate amenable to a tie-up with Microsoft.
|
|
|
Send Article by Email
Send Article by IM
Blog This with Y! 360
Printable View
