updated 12:40 am EDT, Fri June 20, 2008
Yahoo execs leave
Yahoo's board of directors has taken a beating after the Microsoft buyout fiasco, with many leaving their positions as the company looks to restructure its business. The Wall Street Journal writes that Jeff Weiner, Vish Makhijani, Qi Lu, Usama Fayyad, Stewart Butterfield, and Caterina Fake are among those listed who will leave the company, with some saying they are looking for better opportunities with Russian search engine Yandex, and other destinations.
The reorganization comes in response to pressure on the search giant to prove it is worth more than what Microsoft bid earlier this year, with the deal totaling $47.5 billion. Yahoo CEO Jerry Yang claimed the figure grossly understated what the company is worth, considering its online advertising and search businesses, as well as pending technologies.
Many of the staff departures are due to the restructuring, which would drastically alter - possibly even eliminate - some of the positions.
"We have a deep and talented management team across all areas of the company," Yahoo said in a statement. "We continue to recruit outstanding talent."