Yahoo Execs Meeting To Discuss Major Shakeup
Written by on December 5th, 2006 in Ajax News.
Update: We are getting real-time updates from the meeting. At least some of the rumors below aren’t accurate. No word on Semel’s fate or any layoffs. Here’s a stunner, though: COO Dan Rosensweig will be leaving the company by the end of March.
Sources tell us that Yahoo has planned an internal executive-level company-wide Webcast for today at 4 p.m. PST. While we don’t know exactly what will be disclosed, we’ve heard rumors that Yahoo has planned to announce up to a 20 percent layoff and the resignation of chairman and CEO Terry Semel. Word is that Dan Rosensweig, COO, and Susan Decker, CFO and EVP, will act as co-CEO until a replacement for Semel is found.
We’ve also heard that there has been an internal organizational chart circulating within Yahoo showing this restructuring.
While we have a good indication that this meeting is happening, what we don’t know is that the rumors of layoffs and CEO change are accurate and/or will be announced at the meeting. Our usual contacts at Yahoo were not responsive prior to the meeting.
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Source: TechCrunch
Original Article: http://feeds.feedburner.com/~r/Techcrunch/~3/57590966/