Time For Yahoo’s Board To Fire Semel?

I think the piling on Yahoo these days is an overkill, but one commentator thinks it makes sense (the same one who offered possible replacements to Semel last week), and offers possible ways in which how it could be done. Eric Jackson writes that most of the criticism in the wake of the “Peanut Butter” leak has been directed at CEO Terry Semel, but really should be directed at Yahoo’s board. The rationale: the company needs “fresh eyes at the helm to avoid Yahoo languishing only to be ignominiously acquired by a Microsoft or merged with an eBay down the road”. Most of the suggestions relate to corporate governance.
And some stark choices: get someone soon in place to do break down the company silos and rethink or wait for the “many willing activist hedge funds to accumulate positions in Yahoo’s stock above a certain threshold when they will dictate their terms to Yahoo and change its Board composition themselves”.

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