Marissa Mayer, one of the top executives at Google, will be the next CEO of Yahoo, making her one of the most prominent women in Silicon Valley and corporate America. The appointment of Ms. Mayer, who was employee No. 20 at Google and was one of the few public faces of the company, is considered a surprising coup for Yahoo, which has struggled in recent years to attract top flight talent in its battle with competitors like Google and Facebook. Ms. Mayer, 37, had for years been responsible for the look and feel of Google’s most popular products
Yahoo is laying off 2,000 employees as new CEO Scott Thompson sweeps out jobs that don’t fit into his plans for turning around the beleaguered Internet company. The cuts announced Wednesday represent about 14 percent of the 14,100 workers employed by Yahoo. The company estimated it will save about $375 million annually after the layoffs are completed later this year. Yahoo will absorb a pre-tax charge of $125 million to $145 million to account for severance payments. The charge will reduce Yahoo’s earnings in the current quarter. Workers losing their jobs will be notified Wednesday.
Yahoo has fired CEO Carol Bartz, shocking onlookers who had forgotten the company still existed. The news comes on the same day in which TechCrunch founder Michael Arrington may be on the way out the door of his own publication, as parent company AOL considers forcing him out, according to TechCrunch blogger Paris Lemon. Bartz and Arrington once infamously faced off in an interview which dissolved into an exchange of profanities. Neither move should come as a surprise. [Arrington has now been widely reported to be fired by AOL.]
One of the first questions that Jerry Yang and his top lieutenants pondered after he became CEO of Yahoo last summer was whether the company could remain independent. They quickly answered yes. But Yang had a harder time coming up with convincing answers for many of the more complex questions facing the company. How exactly would an independent Yahoo sharpen its focus, shed marginal projects and become a stronger competitor to Google, the runaway leader in online search and advertising? Yang appears to have run out of time to answer those questions. A $44.6 billion bid from Microsoft is once again forcing Yang and his board to consider the viability of Yahoo as an independent company. This time, Yang faces enormous pressure as he decides whether to try to rescue the company from the clutches of Microsoft, or accept the bid and watch Yahoo become part of Microsoft’s arsenal in its no-holds-barred brawl with Google.
The 800-pound gorilla no one talks about Sept. 20, 2005, Vol. 1, Issue #32 IN THE NEWS BEIJING--Visiting the Chinese capital for the first time since 1996 is a startling experience. Nothing you've read can prepare you for the overwhelming physical reality of China's explosive growth, its leap from the bicycle age to the age of Audis, cell phones, and a middle-class passion for fashion. Wander through Beijing's glitziest malls and watch crowds of young Chinese chatting on cell phones, roaming in and out of Nine West, Mr. Klein, Givenchy, Rolex watch stores, Starbucks, Pizza Hut, or the local Cineplex, and you realize