Yahoo's management has changed again

Absrtact: Following the January 17 Yahoo co-founder Jerry Yang announced the resignation of all the positions of Yahoo, Yahoo management again changed. Yesterday, Yahoo announced the restructuring of the board, Chairman Roy Bostak (Roybostock) and the other three directors Gary Wilson, Arthur

Yahoo's management has changed again after January 17, when Yahoo co-founder Jerry Yang announced the resignation of all of Yahoo's positions. Yesterday, Yahoo announced restructuring of the board, Chairman Roy BOSTAC (Roybostock) and the other three directors Gari Wilson, Asser Kern and Viomes Choshi resigned, former IBM executives, former Rovi CEO Alfred Amorusso and the former chief operating officer of ebay, Maynard · Webb will join the Yahoo board and continue to look for new board members.

Roy Bostac in his resignation letter that day last September, Yahoo's board began to actively and decisively adjust itself, the 4 board members of the collective resignation is mainly to speed up the company's transformation. Roy Bostac also revealed that the issue of Yahoo's equity investments has so far not received attractive proposals and that the restructuring of Asian assets is still under discussion.

Exchange transfusion or because of "the dispute of equity agency"

Some analysts believe that Yang's departure, as well as the Roy Bostac and other four directors of the separation, the most direct reason is to avoid some dissatisfied investors "equity agency dispute", especially Yahoo radical investors, well-known hedge fund investor Daniel Le Boux, he has been working to find his own set of Yahoo board, and is expected to launch a proxy battle with Yahoo's board before February 24.

As early as last December, Daniel Le Boux wrote to Yahoo's board, "we are uneasy about mismanagement, considering the botched strategic history of Yahoo chairman Roy Bostac and founder Jerry Yang, and are demanding that they consider selling Yahoo's stake to private-equity firms."

The resignation of four directors, such as Yahoo Chairman Roy Bostac, appears to be a determination to show that Yahoo is looking for a "comeback". Roy Bostac said: "I am writing this letter to show you that Yahoo board has taken a series of actions, and we are still actively seeking to create value for shareholders and promote the growth of enterprises", and said that the Yahoo board in the past six months ago has actively promoted three direction of development, Pave the way for Yahoo's future success: including launching the search for new CEOs, conducting comprehensive strategic and business structure reviews, and evaluating the company's Board's ability to anticipate future success prospects.

Asian asset Disposal is still under discussion

Yahoo Chairman Roy Bostac in his resignation letter that Yahoo has had extensive discussions with potential partners and has reviewed the proposals, including equity investments in the company, and has yet to find any proposals that have a greater appeal to shareholders. In addition, "Yahoo is also working with partners in Asia Alibaba and Yahoo Japan to discuss the possibility of restructuring, the complexity and specificity of these transactions is critical, although we will continue to invest a lot of resources, but at present we are unable to provide more detailed information on the relevant negotiations, There is no guarantee that these deals will eventually be realized. ”

Yahoo's investors have long wanted companies to do more to sell Asian assets, including a 40% per cent stake in Alibaba and a 35% per cent stake in SoftBank. "Alibaba should complete its 40% per cent takeover of Yahoo as soon as possible, which is beneficial to both sides, while Alibaba can focus on its core business, on the one hand Yahoo can start to revive its troubled search business," Forbes magazine's online edition, published in Wednesday, said in a Doug Yang analysis.

However, a few days ago, after Yahoo appointed its new CEO last month, Alibaba and Yahoo finally entered the serious stage of negotiations, a deal involving the sale of Yahoo 33% Alibaba shares and 35% Japanese Yahoo shares in the final agreement has been discussed between the agreement makers, the completion of the signing may need more time, Maybe by mid-March, but the real deal is expected to be 2013 years.