Yahoo’s chairman and three other board members just announced that they will be stepping down.This follows Yahoo cofounder Jerry Yang’s resignation from the board a couple weeks ago.
This is all very good news for Yahoo employees and shareholders. This board hasn’t been very effective for years now. It was always going to be stained with the mistake of turning down Microsoft’s huge acquisition offer.
But here’s the weird thing about all this.
In September 2011, the Yahoo board fired CEO Carol Bartz.
Then it spent about 100 days trying to find a fancy, impressive replacement.
It couldn’t, because no fancy, impressive executive wanted to work for that Yahoo board.
So the board ended up hiring a no name, former PayPal president Scott Thompson.
And now, a month or so later, much of the Yahoo board is resigning.
Why didn’t they do that earlier, and get a big time leader?
(Not saying Thompson won’t be the guy, but still…)
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