Tag Archives: shareholders

Yahoo! Board of Directors Forms Special Committee to Review CEO Academic Credentials

SUNNYVALE, Calif. –– The Board of Directors of Yahoo! Inc. today announced that it has formed a special committee to conduct a thorough review of CEO Scott Thompson’s academic credentials, as well as the facts and circumstances related to the review and disclosure of those credentials in connection with Thompson’s appointment as CEO.

The special committee is chaired by Alfred Amoroso, an independent director who joined the Board in February of this year. The other members of the special committee are John Hayes and Thomas McInerney, independent directors who joined the Board in April of this year. (more…)

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Yahoo! Announces Resignation of Jerry Yang

SUNNYVALE, Calif. — Yahoo! Inc., the premier digital media company, today announced that Jerry Yang has resigned from its Board of Directors and all other positions with the company, effective today. In addition, Yang resigned from the Boards of Yahoo Japan Corporation and Alibaba Group Holding Limited, effective today.

In a letter to the Yahoo! Board Chairman Roy Bostock, Yang wrote:

“My time at Yahoo!, from its founding to the present, has encompassed some of the most exciting and rewarding experiences of my life. However, the time has come for me to pursue other interests outside of Yahoo! As I leave the company I co-founded nearly 17 years ago, I am enthusiastic about the appointment of Scott Thompson as Chief Executive Officer and his ability, along with the entire Yahoo! leadership team, to guide Yahoo! into an exciting and successful future.” (more…)

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Yahoo! Statement

SUNNYVALE, Calif.–(BUSINESS WIRE)– Yahoo!, Inc. today issued the following statement:

“Yahoo’s Board of Directors’ objective is, and always has been, to serve the best interests of all the company’s shareholders. The Board’s comprehensive strategic review is being properly managed for the benefit of all shareholders and is guided by outside counsel for the independent directors and investment bankers retained separately by the Board. The Board of Directors (eight independents and Mr. Yang) controls the strategic review process and has directed its Transactions and Strategic Planning Committee (comprised of four independent directors) to manage the process day-to-day and report regularly to the Board. (more…)

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Yahoo! Inc. Releases Statement Regarding Alipay

SUNNYVALE, Calif.–(BUSINESS WIRE)— Yahoo! Inc., issued the following statement in response to recent media reports regarding the timing of the restructuring of Alipay:

On March 31, 2011, Yahoo! and Softbank were notified by Alibaba Group of two transactions that occurred without the knowledge or approval of the Alibaba Group board of directors or shareholders. The first was the transfer of ownership of Alipay in August 2010. The second was the deconsolidation of Alipay effective in the first quarter of 2011. (more…)

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Researchers Skeptical About Bank Taxes, Regulations Still Needed

ANN ARBOR, Mich.— Taxes on executive bonuses, financial transactions and excess profits are a few of the taxes proposed or enacted to punish banks for their role in the recent financial crisis, but most of these ideas have shortcomings, says a University of Michigan economist.

“A number of potentially complicated and ambitious new taxes on the financial sector are currently being discussed,” said Joel Slemrod, professor of economics and the Paul W. McCracken Professor of Business Economics and Public Policy at Michigan’s Ross School of Business. “While the recent financial crisis shows how important it is to consider whether such instruments might help to improve incentives, reform efforts should not unduly focus on the exotic and new at the expense of the familiar and old. (more…)

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