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FBN’s Shibani Joshi on the departure of Yahoo’s CEO and whether the company can find a viable leader.
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Scott Thomson resigns as CEO of Yahoo! that makes four CEOs in the company's last five years joining the -- -- Shibani Joshi.
Five.
I'm -- -- and Scott Thompson and what happened to him and who takes over yet.
I just don't think that anybody is interested in buying Yahoo! at this point.
They -- the opportunity in number of years ago when Microsoft stepped in and what they were talking about 3040 dollars a share but the internal management completely botched it up Jerry -- so sort of wedded.
To his company sometimes you see this you know founders getting -- -- -- blinded by their own motives that they turned down what investing is for the company.
And now we're in the position that we're in today you you talk about how many CEOs the company has had.
Yet another revolving door and circle in its its absolute chaos.
So I think actually runs the Yahoo! at the moment I think is download.
-- -- hedge fund manager he's got a big investment in Yahoo! I think he's appointing three people to the boy yet he's the one who really got Scott Thomson.
Alex he -- the show here's what I think Yahoo! he is a prime example of right now Eads is a prime example of a new wave that activist investors that are coming in.
Third point own something like five point 8% minority -- -- -- hedges its share they don't have a majority stake at all.
But what they are is vocal air -- and they're trying to shake up change and that's exactly what this company's dining we're seeing it happen all across corporate America.
-- small minority investors that are saying we're not gonna take it anymore you have completely eroded our shareholder value we want transparency we want to realign this company.
And they're using all of these sort of external practices and their and their activism.
To do -- we're seeing it happen a political -- it's happening in corporate America to.
Is there any way I need your judgment on this because you know the company father and and I do I don't I just don't understand it.
Is there any way you could turn Yahoo! around and make it into a growth vehicle -- some way shape.
All I wanted to Scott Thompson's credit I had interviewed in a number of times he turned PayPal into him.
Billion dollar business I thought that this is gonna be the company's chance that listen.
Once you cook your resonate there is always that question mark of cooking the books and new boxes that can if you could turn Yahoo! around how do you do I think everything is possible I'm an optimist -- -- -- it's gonna be doing it -- think it's gonna be easy I don't but what heat is good that was doing mobile and and making this company more transition in transitioning into a mobile company.
And he is one of the few people that could have done that and he's gone so I in I don't know.
Who think they stop who would ever want to take a -- -- -- -- -- it -- I I don't think give up on it doesn't that growing its marketshare of search I think what it has to do -- find.
A different drumbeat now it's gotta find a different way because it's not able to compete with -- not able to compete with -- It's got to shift -- years not Thompson was going to do that.
I have no idea how they're gonna do it now can you imagine who would want to take that -- there's no amount of money that you -- Amy.
To take that dot and I think there -- a lot of people that feel that way they wouldn't give the jumped in the them wouldn't think that you never know there's always surprised -- would -- it -- -- thanks for joining.
