AgencySpy LostRemote TVNewser TVSpy FishbowlNY FishbowlDC GalleyCat SocialTimes

Posts Tagged ‘Scott Thompson’

With Thompson Gone, Yahoo Needs Stability

So Scott Thompson is out, adding to the growing list of CEOs who simply couldn’t hang on to their job at Yahoo. Not only did hedge fund Third Point get the ouster it wanted, it’s also getting three board seats. Adding to Thompson’s woes, the now former CEO revealed the awful news to the board that he has thyroid cancer, which is part of the reason he’s resigning. He had been in the job since January.

Ross Levinsohn (left), the company’s head of global media, is taking the CEO seat on an interim basis. Does anyone want this job?!

On the positive side, shares of Yahoo stock rose with the news that Thompson was leaving the company. On the negative side, this latest changing of the guard doesn’t change anything for the company just yet. It’s still behind the curve from a tech standpoint and its still got troubles with an unpopular patent infringement suit against Facebook.

It will take time to turn around business fortunes entirely, but the company needs to start by offering up stability.

Read more

Mediabistro Course

Mediabistro Job Fair

Mediabistro Job FairLand your next big gig! Join us on January 27 at the Altman Building in New York City for an incredible opportunity to meet with hiring managers from the top New York media companies, network with other professionals and industry leaders, and land your next job. Register now!

Yahoo Taking Baby Steps to Address Activist Hedge Fund Eruption

Patti Hart, a Yahoo board director who helped with the decision to hire CEO Scott Thompson, will announce today that she won’t seek re-election following the eruption over Thompson’s resumé shenanigans. The company will also create a three-person committee that will look deeper into the hiring process.

The trouble started last week when activist hedge fund Third Point uncovered an inaccuracy on Thompson’s CV. Since then, they’ve called for his ouster and, when that didn’t happen yesterday, an investigation and greater transparency. Hart’s resumé was also called into question.

Thompson himself has apologized to employees for the brouhaha.

Read more

Yahoo’s CEO Still Has a Job. For Now.

Yahoo’s CEO Scott Thompson still has a job but Third Point, the activist hedge fund investor that had demanded his ouster for educational inaccuracies on his resumé, isn’t letting up. Now they want to take a look at the paperwork that went into the vetting process.

Yahoo hasn’t responded, but Third Point has been very vocal. CNET has a statement from the hedge fund, which has laid out its demands for widespread investigations pretty thoroughly. Third Point is also seeking greater communication from Yahoo.

Read more

Corporate Execs in the Hot Seat, Getting Burned

Photo: Pier Paolo Cito/AP

Smells like bacon? Oh, that’s just the aroma of corporate leaders getting burned by bad press, crisis situations, and business downturns. It’s not anything new necessarily, but three’s a trend so why not take a closer look at three recent cases, shall we?

First we have the case of the quiet CEO — Mickey Arison, CEO of Carnival, which owns the Costa Concordia, the ship that ran aground off the coast of Italy on January 13 killing, at last count, 13 people. Pier Luigi Foschi, CEO of Costa Crociere SpA, Carnival’s Italian arm, has been speaking publicly, mostly to blame the captain, Francesco Schettino, who, with his ability to trip and fall to safety, is the luckiest mariner in the history of sea travel.

Read more

Yahoo’s New CEO Could Use a Good Comms Team


The latest news from Yahoo is its new CEO, former PayPal president Scott Thompson. The company’s last CEO, Carol Bartz, didn’t work out so well. And neither did the one before that. Or the one before that. Yahoo has changed CEOs so many times, it warranted a chart to keep track of it all in today’s Wall Street Journal (available after the jump). As you see in the graph, under Tim Koogle, the company reached a high, but he was ousted when it slumped. Yahoo hasn’t recovered to those high levels.

The WSJ charts the company’s problems over the years, detail about Thompson’s background, and how the company decided to appoint him. It also quotes Thompson, who says he wants Yahoo to be ”one of those great iconic brands.”

Read more