News Byte

Adobe Expands Board by Three to an Even Dozen

Adobe’s going to need a longer table in the executive conference room with the addition of three new directors to its board of nine. Aboard as of today are Amy Banse, Comcast SVP and managing director and head of funds for Comcast Ventures; Frank Calderoni, executive vice president and CFO of Cisco; and Laura Desmond, global chief executive officer of Starcom MediaVest Group.

Starbucks’ Schultz: Don’t Read Anything Into Exit From Groupon Board

Starbucks Chairman and CEO Howard Schultz said today on CNBC that he has confidence in both Groupon’s board and CEO, even after stepping down from the board after 19 months.
Howard Schultz headshot

Hangin’ Tough: Groupon’s Stock Closes in Single Digits for First Time

Selling a pair of tickets to see New Kids on the Block for $10,000 today didn’t stop Groupon’s stock from closing below $10 a share.
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News Byte

Google’s Marissa Mayer Headed to Walmart Board

Google’s Marissa Mayer is about to get a board seat with the world’s biggest retailer. Mayer, Google’s vice president of local and maps, has been nominated to join Walmart’s board of directors. Assuming her nomination goes through, it will be her first board seat at a major corporation. Walmart already has a Silicon Valley power player on its board — Accel’s Jim Breyer has been there since 2001.

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Sprint Board Walked Away From MetroPCS Takeover

Sprint Nextel Corp.’s board explored but rejected a multibillion-dollar deal to acquire smaller wireless rival MetroPCS Communications Inc., people familiar with the matter said.

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Dealpolitik: The Yahoo Paradox

The Yahoo board seems to be officially in full retreat (if not virtual surrender) in response to the assaults from Dan Loeb’s Third Point which began last year.

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Not This Time: Facebook’s Board Should Optimize for Wisdom, Not Diversity

I am not arguing that boards don’t need diversity. Most of the time they do, but let’s pick those fights thoughtfully and where the board has power.

News Byte

Amazon Appoints Attorney Jamie Gorelick to Board

Amazon.com has added Jamie Gorelick to its board of directors. Gorelick, a partner with the law firm Wilmer Cutler Pickering Hale and Dorr since July 2003, will be added to the Leadership Development and Compensation Committee of the board. Previously, Gorelick held numerous positions in the U.S. government. Amazon now has 10 directors.

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California Pension Fund Challenges Facebook Over Board

A large California pension fund has challenged Facebook Inc. over what it sees as a lack of diversity on the company’s board of directors, just days after the social-networking firm filed papers to go public in a closely watched IPO.

Another Director Out at Hewlett-Packard: It’s Lawrence Babbio

Another director leaves the technology giant.
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Board Member Bob Iger Ups Apple Stake