InfoAnda - Yahoo CEO out, investor Loeb gets board seats |

Pakistanis angry over detentions in Times Sq. case
Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They

Taiwan denies boycotting Australian film festival
Thursday, August 6, 2009

AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e

Merkel's support dips, regional ally resigns International
Thursday, September 3, 2009

By Sarah Marsh and Noah Barkin

BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German

Minister seeks closure of anti-Berlusconi websites
Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who

Asian markets mixed after Wall Street rally
Wednesday, March 18, 2009

By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an

G7, G20 meet to 'follow-up' on London summit | 24 April 2009
Qatari firm in talks to make Prophet Mohammad film | Entertainment | | 1 November 2009
Pakistan keeps policy rate unchanged at 12.5 percent | 24 May 2010

US deficit 'to hit $1.2 trillion' | 8 January 2009

Forum Views () Forum Replies ()

Read more with google mobile : Yahoo CEO out, investor Loeb gets board seats |

Edition: U.S. Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom Home Business Business Home Economy Technology Media Small Business Legal Deals Earnings Social Pulse Business Video The Freeland File Markets Markets Home U.S. Markets European Markets Asian Markets Global Market Data Indices M&A Stocks Bonds Currencies Commodities Futures Funds peHUB World World Home U.S. Brazil China Euro Zone Japan Mexico Russia India Insight World Video Reuters Investigates Decoder Politics Politics Home Election 2012 Issues 2012 Candidates 2012 Tales from the Trail Political Punchlines Supreme Court Politics Video Tech Technology Home MediaFile Science Tech Video Tech Tonic Social Pulse Opinion Opinion Home Chrystia Freeland John Lloyd Felix Salmon Jack Shafer David Rohde Bernd Debusmann Nader Mousavizadeh Lucy P. Marcus David Cay Johnston Bethany McLean Edward Hadas Hugo Dixon Ian Bremmer Lawrence Summers Susan Glasser The Great Debate Steven Brill Jack & Suzy Welch Frederick Kempe Christopher Papagianis Breakingviews Equities Credit Private Equity M&A Macro & Markets Politics Breakingviews Video Money Money Home Tax Break Lipper Awards 2012 Global Investing MuniLand Unstructured Finance Linda Stern Mark Miller John Wasik James Saft Analyst Research Alerts Watchlist Portfolio Stock Screener Fund Screener Personal Finance Video Money Clip Investing 201 Life Health Sports Arts Faithworld Business Traveler Entertainment Oddly Enough Lifestyle Video Pictures Pictures Home Reuters Photographers Full Focus Video Reuters TV Reuters News Article Comments (0) Follow Reuters Facebook Twitter RSS YouTube Read Merkel's party routed in big German state 13 May 2012 Forty-nine headless corpses found in northern Mexico 13 May 2012 JPMorgan executives set to leave, sources say 4:16am EDT Euro zone turmoil boosts London property stampede 13 May 2012 Austerity blow for Merkel in German state election 13 May 2012 Discussed 154 Romney apologizes for bullying incident at school 148 Obesity fight must shift from personal blame: U.S. panel 124 Florida nabs white supremacists planning ”race war” Watched A look at the U.K.’s most beautiful face Thu, May 10 2012 Surfer rides 78-foot wave to world record Fri, May 11 2012 Queen arrives in carriage for Diamond Jubilee pageant. Sun, May 13 2012 Pictures Reuters Photojournalism Our day's top images, in-depth photo essays and offbeat slices of life. See the best of Reuters photography. See more | Photo caption Photos of the week Our top photos from the past week. Slideshow Mother's Day in prison An annual Mother's Day event, Get On The Bus, brings children to visit their mothers in prison. Slideshow Afghan girls An indepth look at the lives of girls in Afghanistan in times of uncertainty. Slideshow Yahoo CEO out, investor Loeb gets board seats Tweet Share this Email Print Related News RPT-UPDATE 3-Yahoo CEO out, board settles with investor Loeb Sun, May 13 2012 Facebook's Zuckerberg says mobile first priority Sat, May 12 2012 Yahoo CEO says he never provided a resume: source Thu, May 10 2012 Investor wants Yahoo CFO or media boss as temp CEO Wed, May 9 2012 AOL beats Street, plans big return to shareholders Wed, May 9 2012 Analysis & Opinion Should we ditch the idea of privacy? Over dinner in Sin City, Gore and hedge fund honchos talk taxes and Obama Related Topics Tech » The Yahoo! offices are pictured in Santa Monica, California April 18, 2011. Credit: Reuters/Mario Anzuoni By Alexei Oreskovic SAN FRANCISCO | Mon May 14, 2012 2:27am EDT SAN FRANCISCO (Reuters) - Yahoo Inc is replacing its CEO for the third time in as many years, and giving three board seats to a hedge fund led by Daniel Loeb, putting him in a strong position to influence strategy at the struggling Internet company. Chief Executive Scott Thompson stepped down on Sunday, 10 days after Loeb accused him of padding his biography by faking a computer science degree. Loeb's Third Point LLC is one of Yahoo's largest shareholders with a 5.8 percent stake. Yahoo did not give a reason for Thompson's exit but said the company's global media head, Ross Levinsohn, will be interim CEO. It also said it had settled a proxy battle with Third Point and will nominate three of the fund's slate of four candidates to the board, including Loeb. Thompson's departure after just four months on the job throws into question the future of Yahoo as it struggles to revive growth amid fierce competition from the likes of Google Inc and Facebook Inc, and produce a long-term strategy to convince investors to reverse its share slide. Yahoo recently resumed negotiations to sell all or part of its more than 40 percent stake in Chinese Internet and e-commerce company Alibaba back to the Chinese company, after torpedoing a previous plan to do a complex tax-free transaction. "This is a big victory for Third Point. It strengthens their argument that this board was dysfunctional, and it's going to increase Third Point's ability to shape the direction of the company," BGC analyst Colin Gillis said. For months, the New York-based hedge fund has been demanding that Yahoo revamp its board, which Loeb has blamed for a lagging share price, loss of market share, and a failed sale to Microsoft Corp in 2008. Loeb has also been credited for sparking the resignation of co-founder Jerry Yang and former Chairman Roy Bostock this year. Third Point had said Levinsohn or Chief Financial Officer Tim Morse should take the helm in the interim. Loeb could not be reached on Sunday to comment on what he thinks Yahoo's future strategic direction should take. Loeb, and his other nominees Michael Wolf and Harry Wilson will replace other board members. "We are confident this Board will benefit from shareholder representation, and we are committed to working with new leadership to unlock Yahoo's significant potential and value," Loeb was quoted as saying in a statement from Yahoo. Yahoo also named Fred Amoroso, an IBM veteran who joined the board in February, as chairman. He is one of a slate of 11 directors that Yahoo said it would nominate for the 2012 annual shareholders meeting, including Loeb's three. MEDIA VETERAN Yahoo was a dominant player in the early days of the Internet but has struggled for years to maintain its relevance as social media, mobile computing and highly personalized advertising have redefined the industry landscape. While brands such as Yahoo News, Yahoo Sports and Yahoo Finance remain among the most popular destinations on the Web, a relentless industry-wide decline in display advertising prices has made it difficult to make money on those assets and raised questions about the long-term viability of an ad-based strategy. Levinsohn, who made his name running News Corp's Fox digital business, is often mentioned as a CEO contender but the company went first with Carol Bartz in January 2009, fired her in September last year, and then named Thompson, the former president of eBay Inc division PayPal, in January. "The disfunctionality of this company is relatively unparalleled. Nothing they do seems to work," said Lawrence Haverty, a fund manager with GAMCO Investors, which owns Yahoo shares. "Right now I think a sale of the company is the best option. We believe the assets are worth somewhere north of $20 a share on a break up basis." Yahoo shares closed at $15.19 on Nasdaq on Friday. A media veteran, Levinsohn is popular among Yahoo's rank-and-file and has credentials as a negotiator. He had helped steer News Corp's acquisition of MySpace, and had started an investment fund to buy interests in various digital and media companies across the globe before joining Yahoo. "He is well-respected in the Valley, Hollywood and on Madison Avenue," said Jason Hirschhorn, a former MTV digital executive. "Yahoo has to lean into media and he has the plan." Levinsohn, who previously headed up Yahoo's Americas business, holds a Bachelor of Arts in Communications from The American University according to Yahoo's website. "Importantly, today's announcements lay to rest the unfortunate and serious distractions surrounding our senior leadership and the composition of our Board going forward," Levinsohn wrote in a staff memo on Sunday. He added, "I believe in the tremendous strength and value of our brand, and in our relationship with our users and partners." A HASTY EXIT Yahoo acknowledged last week that Thompson does not have a computer science degree despite what was stated in his official company biography and in regulatory filings with the U.S. Securities and Exchange Commission. Emails sent to Thompson's official Yahoo email address were already bouncing back on Sunday morning. He had only just began to push through a new strategy that included layoffs of 2000 people. Thompson had indicated his intention to move the company away from its dependence on display advertising and focus more on data and personalization, but it is not clear if Levinsohn, whose background is in advertising, would keep the plan intact. "This company was struggling to find its path before any of this happened, and the situation will make them lost in the woods for that much longer," Macquarie Securities analyst Ben Schacter said. "It is not an overstatement to say that Yahoo has profound structural problems." "The key question for shareholders remains how will they monetize the Asia assets. The board and shareholders, not an interim CEO, will need to figure it out," Schacter said. Thompson's departure was reported earlier by the technology blog AllThingsD. (Additional reporting by Lynn Adler and Tiffany Wu in New York, and Edwin Chan in San Francisco; Editing by Maureen Bavdek, Marguerita Choy, Diane Craft and Edwina Gibbs) Tech Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above. Edition: U.S. Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom Back to top Reuters.com Business Markets World Politics Technology Opinion Money Pictures Videos Site Index Legal Bankruptcy Law California Legal New York Legal Securities Law Support & Contact Support Corrections Connect with Reuters Twitter Facebook LinkedIn RSS Podcast Newsletters Mobile About Privacy Policy Terms of Use AdChoices Copyright Our Flagship financial information platform incorporating Reuters Insider An ultra-low latency infrastructure for electronic trading and data distribution A connected approach to governance, risk and compliance Our next generation legal research platform Our global tax workstation Thomsonreuters.com About Thomson Reuters Investor Relations Careers Contact Us Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests. NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

Other News on Monday, 14 May 2012
Austerity blow for Merkel in German state election |
Iran says pressures may damage nuclear talks |
Monti warns of tears in Italy's social fabric |
Spaniards keep up anniversary rally against crisis |
Syrian forces kill 7 civilians in rural attack: activists |
Yahoo CEO steps down in victory for investor: source |
NBC bets on comedy, to air 'Voice' twice a season |
Greek elections loom after leftist rejects coalition talks |
Austerity blow for Merkel in German state election |
Syria rebels kill 23 soldiers in Rastan: group |
Senior Afghan peace negotiator shot dead in Kabul |
NATO underplayed civilian deaths in Libya: HRW |
Militants blow up Yemen gas pipeline again |
Hollande's DS ride foreshadows auto industry test |
Forty-nine headless corpses found in northern Mexico |
Drowned Libya oil chief feared going home |
Egypt brokers Palestinian hunger strike deal: source |
Yahoo CEO out, investor Loeb gets board seats |
Facebook IPO has halo effect for venture capitalists |
Shares in TV maker Loewe jump on Apple bid talk |
NBC bets on comedy, to air Voice twice a season |
Shock-seekers snap up new Aussie art dare |
Isolated Merkel sticks by austerity after vote setback |
British PM under pressure over former spokesman |
U.N. inspectors to push Iran on military site access |
Japan assembly agrees to restart reactors, hurdles remain |
Gulf Arabs weigh closer union at Riyadh meeting |
Russia says killed seven Islamist militants: agencies |
Peru-Chile border hit by 6.2 quake, no damage seen |
Palestinian inmates agree to end hunger strike |
Court revives Apple claim on Samsung tablets |
Nvidia, Intellectual Ventures acquires 500 patents |
Fewer women in top U.S. tech jobs since 2010: survey |
New wedding web app connects guests before the big day |
Booker T. & the MGs bassist Donald Duck Dunn dies at 70 |
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights

USD EUR - 1 year graph		BlogMeter 1.01