Yahoo’s chairman and three of its board members will step down at the company’s next shareholder meeting as part of an extensive overhaul process Yahoo has been undertaking to please investors. Yahoo has faced criticism from shareholders for some time. Years ago, its management refused a buyout offer from Microsoft that would have netted $44.6 billion. More recently, growth has slowed and failed to keep apace with competitors such as Google and Facebook. Investors have also been frustrated with the company’s inability to close deals on Asian assets.
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Yahoo Rumblings Shake Loose Chairman, Board Members
Posted by: Rachelle Dragani February 8, 2012 10:57 AMYahoo’s chairman and three of its board members will step down at the company’s next shareholder meeting as part of an extensive overhaul process Yahoo has been undertaking to please investors. Yahoo has faced criticism from shareholders for some time. Years ago, its management refused a buyout offer from Microsoft that would have netted $44.6 billion. More recently, growth has slowed and failed to keep apace with competitors such as Google and Facebook. Investors have also been frustrated with the company’s inability to close deals on Asian assets.