Yahoo’s CEO Scott Thompson Faces Proxy Fight, Results In Halt Of Asset Sale

Posted on Feb 15 2012 - 10:18am by Editorial Staff

Yahoo, the premier digital company which back in January announced its drop in revenue by 13 percent in its fourth quarter results of 2011 hired former PayPal employee Scott Thompson in the hope to turnaround the company’s core business – but with today’s WSJ report it seems to be he is in the middle of potentially bigger and shaking of things to take care of.

WSJ reported, “Activist shareholder Dan Loeb launched a proxy fight to shake up the board in which he urges to put four of his own director including one seat for himself.” It also states, “A cornerstone of Yahoo’s strategic review—the shedding of its Asian assets in a tax-efficient way—appeared to fall apart.”

The premier digital company is seeing one loss to another since from a very long time – drop in revenue – Yahoo’s co-founder Jerry Yang resignedRoy Bostock (Yahoo’s chairman), Vyomesh Joshi, Gary Wilson and Arthur Kern resigned and now the to-be called as shaking of board.

(Image Source: Yahoo logo, Featured Image)

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Editorial Staff at I2Mag is a team of subject experts led by Karan Chopra.