Yahoo’s Interim CEO in Internal Meeting: “Time Is a Constraint” (Also, Blame the Media!)
Today, in an internal meeting of its VP-level execs, Yahoo’s interim CEO Tim Morse said of the Silicon Valley Internet giant’s strategic review that “we know time is a constraint and we are mindful we have to go quickly.”
Morse, who is largely seen as a figurehead by Yahoo insiders and a proxy for the board after the recent firing of CEO Carol Bartz, held the confab this morning.
(Note to Tim: I don’t know why I am not just invited to these Yahoo gatherings, since it would make my life a lot easier.)
Back to the meeting action: Morse got a lot of questions from the execs, who were very concerned by the muddled swirl of rumors about the future of Yahoo, including a possible sale.
While saying he was open to all questions, Morse began with an explanation for the group that he could not answer “unwise” ones that he either did not have insight into or could not answer in a semi-public forum.
That included upcoming quarterly results, retention plans and, of course, sale offers.
Only wise questions, peeps! (And no wisenheimer stuff, either!)
Of course, no one paid attention to that request. They launched instead into multiple queries about the strategic plan the board is working on.
Morse told the group that there was interest in Yahoo and that its banking advisers were reaching out to those “we think we should be talking to.”
He added, noting that Yahoo had to focus on its ongoing business: “We know time is a constraint and we are mindful we have to go quickly” on the strategic review of what to do.
Previously, the board has said the process would take months, which is too glacial, considering.
There was also a question about the stock and the risks to their jobs in any deal. Cautioning that he could not say what would happen, Morse assured them that any party that buys the company would likely want to retain talent.
Someone else asked what a good buyer would look like. Morse replied that it would be someone who was good for employees, for shareholders and for customers.
But not good for the wretched media!
Morse took particular aim at us, noting that the press was writing stories “because they make money out of clicks.”
Actually, while we will take the clicks, AllThingsD is writing stories so Yahoos and everyone else can get a clearer picture of what is going on, as opposed to the incessant corporate confusion coming from Yahoo.
(By the way, just sayin’, but Yahoo also likes the clicks to its pages.)
One person asked if Yahoo was officially for sale. Morse said, “No, we are not trying to sell the company.” Then, he blamed the media again for misreading co-founder Jerry Yang’s recent memo about evaluating options as code for a sale.
Which it was — and you can take that click to the bankers.
A Yahoo spokeswoman, natch, declined to comment.