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There are some big changes at Yahoo! In what can only be described as a stunning victory for Dan Loeb and his hedge fund Third Point, Scott Johnson will resign as Yahoo’s CEO and three of Mr. Loeb’s hand-picked directors will join Yahoo!’s board. Although the official announcement will say that Mr. Johnson’s is leaving for personal reasons, Loeb has been pressuring Yahoo to fire Johnson for quite some time. Just this past week, Yahoo gave in after Loeb publicized his suspicions that Thompson had fudged his resume by adding a computer science degree that he did not earn. The phony document was filed by Yahoo with the Securities and Exchange Commission. Which is serious stuff. Thompson’s squirrelly explanations of the gaff tied Yahoo’s hands. What will happen now? Ross Levinsohn, Yahoo’s current EVP and head of global media will become interim CEO and Third Point’s new directors will take their seats. How this affect Yahoo? Visit shellypalmer.com to learn more about it.
About Shelly Palmer
Shelly Palmer is the Professor of Advanced Media in Residence at Syracuse University’s S.I. Newhouse School of Public Communications and CEO of The Palmer Group, a consulting practice that helps Fortune 500 companies with AI strategy, implementation and governance, as well as technology, media and marketing. Named one of LinkedIn’s Top Voices in Technology, he is a bestselling author, covers tech and business for Fox 5’s Good Day New York, is a regular commentator on CNN, and writes the popular daily business blog Think About This. Follow @shellypalmer or visit shellypalmer.com.