AllThingsD » tenure http://allthingsd.com Sat, 26 May 2012 19:52:25 +0000 en hourly 1 http://wordpress.org/?v=3.3.2 http://allthingsd.com/theme/images/logo-rss.jpg All Things Digital http://allthingsd.com/ 144 22 Exclusive: Yahoo's Thompson Out; Levinsohn In; Board Settlement With Loeb Nears Completion http://allthingsd.com/20120513/exclusive-yahoos-thompson-out-levinsohn-in-board-settlement-with-loeb-nears-completion/ http://allthingsd.com/20120513/exclusive-yahoos-thompson-out-levinsohn-in-board-settlement-with-loeb-nears-completion/#comments Sun, 13 May 2012 15:59:24 +0000 Kara Swisher http://allthingsd.com/?p=207290

Yahoo’s embattled CEO Scott Thompson (pictured here) is set to step down from his job at the Silicon Valley Internet giant, in what will be dramatic end to a controversy over a fake computer science degree that he had on his bio, according to multiple sources close to the situation.

The pair will apparently say he is departing for “personal reasons.” Sources said that Thompson will be claiming to be leaving due to a serious illness that he recently discovered he had.

But the evolving crisis — which is just over a week old — centered on his botched resume and how he handled the thorny issue is the key reason for the abrupt end to his tenure as a CEO.

Thompson’s likely replacement on an interim basis will be Yahoo’s global media head Ross Levinsohn, who most recently also ran its Americas unit, including its advertising sales.

In addition to the management upheaval, Yahoo’s board is closing in on a settlement with the man who discovered Thompson’s misstep, activist shareholder Daniel Loeb of Third Point, said sources.

The situation could change, since Yahoo’s full board still has to meet this morning to officially approve the sweeping changes at the long-troubled company.

But, if it is, this development goes a long way toward fixing some of what has been ailing Yahoo recently.

And it’ll also be a stunning victory for Loeb (pictured here), since the pugnacious hedge fund investor is set to get three board seats from a slate proposed by him as part of a proxy fight aimed at Yahoo. The new Yahoo directors will be media exec Michael Wolf and turnaround specialist Harry Wilson. Loeb’s fourth selection — former NBC head Jeff Zucker — will withdraw.

The five current Yahoo directors — who were to step down at the company’s annual meeting this summer — will leave the board effective immediately, sources said, to make way for the Third Point selections.

Finally, Yahoo’s recently added director Fred Amoroso will be named chairman of the board.

Amoroso is the director who has been conducting the investigation into the issues raised by Loeb about how the fake academic credentials got in Thompson’s public bios, as well as in Yahoo’s regulatory filings, and also the hurried circumstances around his hiring in January.

Those mysteries — read, screw-ups — might never be solved now, although Thompson made a convoluted attempt to explain it all in two awkward employee meetings at the end of last week. In those gatherings, according to numerous sources, he blamed a headhunting firm for introducing the mistake when he was being hired for a job at eBay in the mid-2000 timeframe.

That company, Heidrick and Struggles, slapped back last week with an internal memo, noting that Thompson’s claim was “verifiably not true.” Sources said that Heidrick told Yahoo’s board that it was in possession of a resume that Thompson had apparently submitted showing the inaccurate CS degree on it.

That memo, impugning Thompson’s credibility, was one of many that piled on to create an impossible situation for the Yahoo board, related to his leadership ability going forward.

Thompson had also previously issued a Yahoo statement, in which he apologized for the “distraction” caused by the problematic resume, but not for the mistake itself.

And, initially, Yahoo — under his direction — had called the borked resume an “inadvertent error.”

Such fumbling to fix the situation was among the many other issues that the board has been considering relating the ability of Thompson to remain in his job. Also of importance was the sinking morale of Yahoo employees, who had largely rejected Thompson’s excuses in the ResuMess scandal.

Internal message boards at Yahoo lit up all last week, with staffers largely rejecting his explanations. In addition, a number of top execs and engineers approached the board calling for Thompson’s firing.

While that’s not precisely what happened here, it’s close enough to describe Thompson’s departure as inevitable.

All this change comes in the wake of a massive restructuring he was in the midst of at Yahoo, after 2,000 employee layoffs.

Thompson was pushing forward a vision of adding a much more significant data and commerce element to Yahoo’s largely ad-based business.

That is likely to be less stressed under media-focused Levinsohn, who will be essentially trying out to be the permanent CEO.

Well known in the media and advertising communities, he has worked at a number of big online efforts over many years.

According to his bio at Yahoo, where he arrived in 2010:

He previously served as the President of News Corporation’s Fox Interactive Media, where he was responsible for the day-to-day operations, strategy and acquisitions that helped transformed the company into a leader in digital media. He also held senior management positions with AltaVista, an early pioneer and leader in search, CBS Sportsline where he oversaw all content and development for the top rated sports site, and HBO where he launched and oversaw a unit developing new programming and revenue streams. Levinsohn also was the co-founder and managing director of Fuse Capital, an investment and strategic equity management firm focused on investing in and building digital media and communications companies.

Levinsohn sits on the board of Freedom Communications and the Bogart Pediatric Cancer Research Program. He holds a Bachelor of Arts in Communications from The American University.

So far in my checking, Levinsohn’s resume is accurate.

More to come, obviously.

I have emails and texts and calls into everyone for comment, but apparently they are all out at a Mother’s Day brunch (except me).

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]]> http://allthingsd.com/20120513/exclusive-yahoos-thompson-out-levinsohn-in-board-settlement-with-loeb-nears-completion/feed/ 0 Is He In or Is He Out? Crunchtime for Scott Thompson at Yahoo. http://allthingsd.com/20120511/is-he-in-or-is-he-out-crunchtime-for-scott-thompson-at-yahoo/ http://allthingsd.com/20120511/is-he-in-or-is-he-out-crunchtime-for-scott-thompson-at-yahoo/#comments Fri, 11 May 2012 15:15:28 +0000 Kara Swisher http://allthingsd.com/?p=206889

While he has only been CEO of Yahoo for less than five months, in the next several days Yahoo CEO Scott Thompson is facing perhaps the most critical moment of his short tenure.

According to sources with knowledge of the situation, the board of Yahoo is not likely to take long in assessing whether he will stay or if he will be let go, due to a controversy around how a non-existent computer science degree got on his bio and also in Yahoo regulatory filings.

A special committee of independent directors is now investigating the matter, including trying to assess the damage has had on Thompson’s ability to lead the Silicon Valley Internet giant.

How quickly the board moves is likely to be a sign of their intent. If within the next days, it is likely to let the former president of eBay’s PayPal payments unit go and replace him with a current company exec; if it waits longer and shows some public support of him — which the board has not done since the scandal erupted — Thompson’s chances are better that he will only be given some sort of censure.

One important task is also closely considering the impact of possible legal problems related to Thompson and others signing documents with the Securities and Exchange Commission that were not accurate.

One thing is clear from interviews with multiple sources, many members of the board have not been happy with how Thompson has handled the matter since activist shareholder Daniel Loeb of Third Point uncovered the problem a week ago.

While first tossing the borked bio as an “inadvertent error,” Thompson was then largely silent about the issue with staff, despite being in close meetings with them, which caused stress among key execs.

Then, he made a public announcement in which he apologized for only the “distraction” caused by the incident and not the error itself as some had hoped he would.

Yesterday, apparently feeling it was time to try to explain things face-to-face, Thompson made another attempt to explain what happened in two separate meetings with his direct reports and then his senior staff, apparently trying to get through to employees that he did not fake his resume nor did he give an inaccurate bio to Yahoo when he was being hired for the job earlier this year.

Thompson thought it was time — now that the board investigation was underway — to answer questions directly, said a source.

Among other things, Thompson gave a somewhat convoluted explanation that it appeared in his bio due to a misunderstanding during an interview with a headhunting firm. And that he never noticed it once it proliferated And that when an NPR interviewer asked him directly about his CS degree, he did not want to correct her in mid-discussion — although others report he said he did not hear the question fully.

Sources said Thompson — who is on the midst of initiating changes across a large and troubled organization, after laying off 2,000 employees — thought the sessions went well, that he clearly communicated that he was taking blame for the problem and its repercussions. Those sources also noted that he received support for doing so after the talks.

But, more than a dozen others I interviewed who were listening remotely — some of whom I sought out and some who contacted me directly — thought Thompson’s complex explanation was deeply problematic and that he tried to foist the blame on others rather than on himself.

Every one of these people expressed the need for him to step down to allow Yahoo to move forward.

What the board thought about the performance is still not clear, said sources, but things are coming down to two distinct scenarios.

The first is a quick parting of the ways with Thompson, within days, either for cause or via a negotiated settlement. Others at Yahoo involved with perpetuating the mistake in the bio are also at risk.

This option is perhaps the more likely at this moment, unless the scandal dissipates and employees continued rancor over the situation can be assuaged soon.

In this case, sources said, Thompson will be replaced by a current board member or a member of the top staff. When directors fired Carol Bartz last fall, CFO Tim Morse became interim CEO and he is one of the likely candidates for the job again.

The second scenario centers on needing Thompson to complete a number of complex transactions related to the sale of Yahoo’s Chinese assets and its re-negotiations with Microsoft over its troubled search partnership, among other things.

In that case, Thompson will be censured in some manner by the board and will also probably have to endure some punishment for allowing false regulatory documents to be filed by Yahoo. Others at Yahoo will also be subject to the same treatment in such an outcome.

How will it turn out?

Only board member Patti Hart has so far paid for her faulty vetting of Thompson, stepping down from the board earlier this week.

But whether she will be the only shoe to drop in what has turned out to be a bizarre wildfire that as raged across Yahoo’s troubled landscape remains to be seen.

Thus, most definitely watch this space this weekend.

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]]> http://allthingsd.com/20120511/is-he-in-or-is-he-out-crunchtime-for-scott-thompson-at-yahoo/feed/ 0 Mr. Ballmer's Wild Ride! Microsoft Execs Will Address Wall Street Suits Today. http://allthingsd.com/20110914/mr-ballmers-wild-ride-along-with-windows-8-microsoft-execs-will-address-the-wall-street-suits-today/ http://allthingsd.com/20110914/mr-ballmers-wild-ride-along-with-windows-8-microsoft-execs-will-address-the-wall-street-suits-today/#comments Wed, 14 Sep 2011 14:17:32 +0000 Kara Swisher http://allthingsd.com/?p=120523

Later this morning, I will scramble the private ATD jet to make my way down south to Anaheim for Microsoft’s annual Financial Analyst Meeting.

That’s right: A bunch of Wall Street types, asking not very challenging questions of top Microsoft execs in a ballroom perilously close to Disneyland.

Taking place this afternoon, starting at 1 pm PT, the confab will include appearances by its top execs, including CEO Steve Ballmer, CFO Peter Klein, COO Kevin Turner, Online Services President Qi Lu and Satya Nadella, who helms the Servers & Tools division of the software giant.

There will be lots to discuss at the confab, including: What is up with Microsoft’s search and advertising partnership now that Yahoo CEO Carol Bartz — who struck the deal — was ousted, and whether it is involved in a possible bid for the Silicon Valley Internet giant again; an update on the Windows Phone business; prospects for Windows 8, which the company just highlighted at its huge developers conference there; questions about its nascent tablet business; comments on Google’s recent moves, including its purchase of Motorola Mobility; and, of course, how Ballmer sees his own tenure at Microsoft, given its longtime lackluster stock performance (paging investor David Einhorn!).

In other words: Mr. Ballmer’s Wild Wall Street Ride!

Look for my live blog from the event later today.

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]]> http://allthingsd.com/20110914/mr-ballmers-wild-ride-along-with-windows-8-microsoft-execs-will-address-the-wall-street-suits-today/feed/ 0 Talking Schmidt: Google's CEO in His Own Words http://allthingsd.com/20110120/talking-schmidt-googles-ceo-in-his-own-words/ http://allthingsd.com/20110120/talking-schmidt-googles-ceo-in-his-own-words/#comments Thu, 20 Jan 2011 20:30:04 +0000 John Paczkowski http://digitaldaily.allthingsd.com/?p=56124 Eric Schmidt once said Google’s “policy is to get right up to the creepy line and not cross it.” But during his soon-to-end tenure as CEO he happily high-stepped across that line like the grand marshal of the Tone-Deaf Technocrat Parade, as I once joked. Below, a collection of some of his more remarkable pronouncements.

ON THE CREEPY LINE
“There is what I call the creepy line.The Google policy on a lot of things is to get right up to the creepy line and not cross it.”
–October 2010

ON BRAIN IMPLANTS, WHICH WOULD CROSS THE CREEPY LINE
“I would argue that implanting something in your brain is beyond the creepy line–at least for the moment, until the technology gets better. As far as I know, we do not have a medical lab working on implants … As far as I know.”
–October 2010

ON PRIVACY:
“Streetview, we drive exactly once. So you can just move, right?”
–October 2010

ON CARS:
“It’s a bug that cars were invented before computers.”
–September 2010

ON THE BORG:
“What we’re really doing is building an augmented version of humanity, building computers to help humans do the things they don’t do well better.”
–September 2010

ON EXTENDING GOOGLE’S MISSION TO YOUR BRAIN:
“With your permission, you give us more information about you, about your friends, and we can improve the quality of our searches. We don’t need you to type at all. We know where you are. We know where you’ve been. We can more or less know what you’re thinking about.”
–September 2010

ON YOUR FACEBOOK PHOTOS
“Show us 14 photos of yourself and we can identify who you are. You think you don’t have 14 photos of yourself on the internet? You’ve got Facebook photos!”
–August 2010

ON FINANCE:
“One day we had a conversation where we figured we could just try to predict the stock market. And then we decided it was illegal. So we stopped doing that.”
–March 2010

ON YOUR NEEDS:
“I actually think most people don’t want Google to answer their questions. They want Google to tell them what they should be doing next.”
–August 2010

ON PRIVACY:
“If you have something that you don’t want anyone to know, maybe you shouldn’t be doing it in the first place.”
–December 2009

ON M&A AND “ADULT SUPERVISION”:
“One day Larry and Sergey bought Android, and I didn’t even notice. Think about the strategic opportunities that has created. Sergey found Google Earth one day while he was surfing on the Web. And then he walked into my office and told me he bought them. “And I said, ‘for how much, Sergey?’ And it turned out to be a few million.”
–October 2009

ON ‘DON’T BE EVIL’
“‘Don’t be evil’ is misunderstood. We don’t have an ‘Evilmeter’ we can sort of apply–you know–what is good and what is evil….The rule allows for conversation. I thought when I joined the company this was crap…it must be a joke. I was sitting in a room in [the] first six months…talking about some advertising…and someone said that it is evil. It stopped the product. It’s a cultural rule, a way of forcing the conversation especially in areas that are ambiguous.”
–June 2008

ON THE ‘EVILMETER’:
“We actually did an evil scale and decided not to serve [China] at all was worse evil.”
– Jan. 2006

ON EVIL:
“Evil is what Sergey says is evil.”
–-December 2002

ON IDIOTS:
“People are surprised to find out that an awful lot of people think that they’re idiots.”
–Date Unknown

ON RUNNING GOOGLE:
“Day-to-day adult supervision no longer needed!”
–-January 2011

]]> http://allthingsd.com/20110120/talking-schmidt-googles-ceo-in-his-own-words/feed/ 3 Exclusive: Major Meltdown at Yahoo as More Top Execs to Depart, Including U.S. Head Hilary Schneider http://allthingsd.com/20100929/exclusive-major-meltdown-at-yahoo-as-more-top-execs-to-depart-including-u-s-head-hilary-schneider/ http://allthingsd.com/20100929/exclusive-major-meltdown-at-yahoo-as-more-top-execs-to-depart-including-u-s-head-hilary-schneider/#comments Wed, 29 Sep 2010 23:21:20 +0000 Kara Swisher http://kara.allthingsd.com/?p=34461

The executive turmoil at the very top of Yahoo continues, with the company poised to announce the resignations of three top execs, including U.S. head Hilary Schneider (pictured here), according to sources close to the situation.

The other execs also leaving, which Yahoo (YHOO) is planning on revealing Friday: U.S. Audience head David Ko and, as BoomTown previously reported, VP of Media Jimmy Pitaro.

While some at Yahoo are trying to spin it as an ouster, sources close to the situation said that Schneider–who presides over media and advertising sales at Yahoo–has wanted to leave the company for a while, but was convinced to stay on by CEO Carol Bartz.

Schneider will, in fact, stay at Yahoo while it searches for her replacement. Heidrick & Struggles had already been headhunting candidates for her job in recent weeks.

Why Ko, who works directly for Schneider, is leaving now is uncertain, although sources said a lot of product control over properties under him is being moved over to Chief Product Officer Blake Irving.

Irving was hired several months ago by Bartz, and he has brought in many former colleagues from Microsoft (MSFT) to top product jobs at the company. And he’s appeared to have won the latest corporate power play too.

This entire mess–and that’s precisely what it is–calls into question the tenure of Bartz, a tough-talking, cost-cutting exec who was brought in to clean up Yahoo after the maelstrom around the failed takeover attempt by Microsoft several years ago.

She replaced co-founder Jerry Yang and came in with guns blazing and styling herself as an agent of change.

Except not too much as changed–except for finally striking a search technology deal with Microsoft–as the exodus of talent from Yahoo increases, advertising revenue growth is anemic, innovation is stalled, metrics are weak and the stock remains moribund.

In addition, Bartz’s frequent shoot-from-the-hip remarks appear to have alienated a number of partners, most recently in Asia.

This week, according to sources, some board members had an emergency meeting at Yahoo’s Sunnyvale, Calif., HQ to try to figure out how to deal with the burgeoning management issue.

Some speculate that they will hire a second-in-command to Bartz, who might be able to take over for her when her contract is up in 18 months.

Yahoo declined to comment.

]]> http://allthingsd.com/20100929/exclusive-major-meltdown-at-yahoo-as-more-top-execs-to-depart-including-u-s-head-hilary-schneider/feed/ 47 Yang: I'll Probably Never Be CEO Again http://allthingsd.com/20081118/yang-ill-probably-never-be-ceo-again/ http://allthingsd.com/20081118/yang-ill-probably-never-be-ceo-again/#comments Tue, 18 Nov 2008 18:49:09 +0000 John Paczkowski http://digitaldaily.allthingsd.com/?p=8626

[ See post to watch video ]

]]> http://allthingsd.com/20081118/yang-ill-probably-never-be-ceo-again/feed/ 1 Yang: I'll Probably Never Be CEO Again http://allthingsd.com/20081118/yang-ill-probably-never-be-ceo-again-2/ http://allthingsd.com/20081118/yang-ill-probably-never-be-ceo-again-2/#comments Tue, 18 Nov 2008 18:49:09 +0000 John Paczkowski http://digitaldaily.allthingsd.com/?p=8626

[ See post to watch video ]

]]> http://allthingsd.com/20081118/yang-ill-probably-never-be-ceo-again-2/feed/ 0