An email from some of the top people at Yahoo appears to suggest that the company could be up for sale and the email also said that a srategic view of its options could take months. The news was contained in rambling memo from co-founders Jerry Yang and David Filo and Chairman Roy Bostock, also said that the search for a replacement CEO for the fired Carol Bartz is ongoing. Microsoft is still seen as a credible suitor for Yahoo and the e-mail was followed later in the day by a missive from interim CEO Tim Morse, who seemed intent on nipping in the bud any sort of lame-duck perception/attitude on the part of employees……………..
Yahoo has received inquiries from multiple parties about potential options, but the struggling Web company expects to take months to decide its future, the company’s co-founders and chairman said in a letter to employees on Friday. “Our advisers are working with us to develop ideas that we will pursue proactively,” read the letter, a copy of which was obtained by Reuters. Yahoo retained Allen & Co to help it conduct a strategic review after it fired Chief Executive Carol Bartz earlier this month and private equity firm Silver Lake Partners is among the parties that have been in touch with Allen & Co. “They are fielding inquiries from multiple parties that have already expressed interest in a number of potential options,” according to the letter, which is signed by Chairman Roy Bostock and co-founders Jerry Yang and David Filo. Yahoo‘s board has started a search for a permanent CEO, but provided no details on the progress of the search or whether the company has hired an executive recruiting firm to oversee the search. At an all-hands meeting the day after Bartz was fired, Yang said the company was not for sale, although Friday’s note did not explicitly mention a sale of the company, it said the company was exploring various options to structure the best approach for the company. In below you wil find an attempt to soften the scuttlebutt about a possible sale:
We need a flexible, visionary plan. That’s why the Board is actively looking at all the options available to put Yahoo on a strong trajectory.
That being said, while the Board makes this decision, it does not mean we are in limbo. We have to keep Yahoo moving ahead. And to do that, there are three things I need Yahoos everywhere to focus on:
- Speed: Emphasize quick execution and decision-making
- Accountability: Do what you say you’re going to do–and take ownership for time to market, monetization, user engagement, quality, or whatever metric defines success for your team
- Purpose: Rally behind our mission and purpose: creating deeply personal digital experiences.