Scott Thompson's short run as Yahoo CEO is over. He resigned this weekend after trying vainly to beat back the growing controversy over his somewhat fanciful resume. Thompson said he had a computer science degree when, in fact, he did not. For all the finger pointing and promises of long-term support for Thompson, nothing it seems could save him from the chopping block. Now Yahoo must try and build momentum behind a new, relatively unknown CEO, as well as a new chairman of the board.
Thompson's resume became valuable weapon in the behind-the-scenes proxy fight that had been underway for weeks in the Yahoo boardroom. Yahoo officially ended its battle with Third Point and has accepted all of their board nominees.
Third Point Lead Daniel Loeb has been urging Yahoo to overhaul its board for months; going so far as to launch a website dedicated to the cause (Third Point's Loeb owns 5.8% of Yahoo's Stock). Loeb was also the first person to accuse Thompson in an official letter to Yahoo's board of resume inaccuracies; an accusation that became fact when Yahoo verified Thompson has inadvertently added the computer science degree to his resume.
That Thompson would eventually leave over the partially faked resume was a forgone conclusion weeks ago, though Yahoo tried to act otherwise. Not everyone believed Thompson should have been fired. In a poll conducted shortly after the resume-gate revelations, a surprising 34% of Mashable readers were urging Yahoo to look at Thompson's years of corporate experience and give him a chance. On the other hand, more that 40% said he should've been fired immediately.
Yahoo's new CEO is a Yahoo insider, which depending on where you sit is either comforting or a red flag. Some may believe the Ross Levinsohn knows the company's strengths and weaknesses well enough to guide it through this particularly trying period. Others may worry that he'll hold some of the failing divisions and properties too dearly to cut them loose.
Still Loeb was calling for big change and with the degree of influence he currently has, it's quite likely that we're about to witness the biggest transformation in Yahoo’s history.
However, before Yahoo begins rebuilding, it will sell. Not the whole company — just a major, lucrative portion: Yahoo’s stake in ecommerce giant Alibaba. This means Yahoo gets money and time. One report said Thompson was hoping to save himself with the deal, but now credit for the deal, if it happens, will go to the new CEO, chairman and board of directors.
Money will buy Yahoo time, but not a coherent strategy. For that, the new leadership has to decide on which road they think holds the most promise: Content or Innovation. From what Thompson said when he took over and even the scant comments from Loeb about the new leadership, Innovation is the road to hoe.
What that actually means is anyone's guess. Yahoo is not actually a technology company any more. It does not stand toe-to-toe with Facebook, Google, Microsoft or even Twitter. It's big, ungainly and still quite popular. Yet, as a company, it's rudderless. Now that it's through the Thompson mess, let's see if Loeb, Levinsohn and company can chart a new and far more successful course.
What do you think Yahoo’s new CEO and board members should do with the company? Share your advice in the comments.
More About: Yahoo
0 Comments:
Posting Komentar