Following the shock revelation that Yahoo’s chief executive officer, Scott Thompson, had lied on his resume, quitting in the wake of this scandal, the company has announced an interim chief executive officer, Ross Levinsohn.
Thompson was given the boot after it was discovered that he had joined the company under false pretenses, and that the college he went to never offered the computer science degree he claimed to have.
Additionally, the company further announced that the Board of Directors has named Fred Amoroso as Chairman of the Board of Directors, replacing Roy Bostock, who apparently had stepped down from his role as non-executive chairman “in order to accelerate the leadership transition for the new Board.”
The revolving door
The company has had no shortage of leadership shakeups
in the past several months, following the ousting of Carol Bartz in September last year and the resignation
of its co-founder, Jerry Yang, at the beginning of this year. Indeed, Yahoo’s leadership role is already being derided as being a revolving door, while Yahoo seems to be on perpetually shaky ground.
However, apparently Levinsohn’s first action has been to try calm the waters in the company. In a leaked memo
to Yahoo staff on All Things D, he writes: “Importantly, today’s announcements lay to rest the unfortunate and serious distractions surrounding our senior leadership and the composition of our Board going forward. However, today’s announcements really boil down to this: following these changes, a transformation and renewal at the Board level that began in August of last year is now complete.”
Additionally, Levinsohn rallied and encouraged Yahoo’s team, continuing: “In spite of the very bumpy road we’ve travelled, we are achieving genuine and meaningful successes in the marketplace every day and heading in the right direction. You deserve at least as much from your leadership as you give. I take that responsibility very seriously and promise to give you my all while I’m serving as interim CEO.”
To the point
Getting Yahoo back on track in light of its ongoing turmoil would be an accomplishment of note. While the media and advertising company has traditionally been a tech giant in its own right, it faces stiff competition like never before; and we suspect that some very good, dare we say, great leadership is sorely needed if the company is going to find its footing again.