Bartz Retains Top Spot at Yahoo! (YHOO)... For Now?
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Carol Bartz is still CEO of Yahoo! (Nasdaq: YHOO)... for now.
The Wall Street Journal had an ominous article following the company's meeting Thursday. It starts with this: "Yahoo shareholders are unhappy with the CEO of the Internet giant. The company’s stock price and revenue are stuck in reverse. Amid speculation about the CEO’s impending departure, the board uses the annual investor meeting to say the CEO and the company are heading in the right direction."
Sounds like its from Thursday's meeting, right? Wrong -- it's from 2007, when then-CEO Terry Stemel ran the company.
Stemel took the helm in 2001, and ran Yahoo! right through 2007, becoming the highest paid CEO at the time. Like Bartz, Stemel had difficulty handling Google (Nasdaq: GOOG), and others.
The WSJ goes on to point out co-founder Jerry Yang had nothing but nice things to say about Stemel, a full vote of confidence. Yang quipped: "...these are pretty exciting times for Yahoo because I think our perception of what we can accomplish as a team is different from what external perception is, and we can’t wait to prove it..."
Stemel was gone a week later.
Today, Chairman Bostock bestowed similar praise on Bartz, stating: "...we’re confident that Yahoo is headed in the right direction."
Let's see what the next week brings.
The Wall Street Journal had an ominous article following the company's meeting Thursday. It starts with this: "Yahoo shareholders are unhappy with the CEO of the Internet giant. The company’s stock price and revenue are stuck in reverse. Amid speculation about the CEO’s impending departure, the board uses the annual investor meeting to say the CEO and the company are heading in the right direction."
Sounds like its from Thursday's meeting, right? Wrong -- it's from 2007, when then-CEO Terry Stemel ran the company.
Stemel took the helm in 2001, and ran Yahoo! right through 2007, becoming the highest paid CEO at the time. Like Bartz, Stemel had difficulty handling Google (Nasdaq: GOOG), and others.
The WSJ goes on to point out co-founder Jerry Yang had nothing but nice things to say about Stemel, a full vote of confidence. Yang quipped: "...these are pretty exciting times for Yahoo because I think our perception of what we can accomplish as a team is different from what external perception is, and we can’t wait to prove it..."
Stemel was gone a week later.
Today, Chairman Bostock bestowed similar praise on Bartz, stating: "...we’re confident that Yahoo is headed in the right direction."
Let's see what the next week brings.
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