Yahoo has fired its CEO and hired a bank, Allen & Co, to field offers from private equity and other players that want to buy parts or all of the company.
The board’s first priority is not finding a new CEO, but dealing with those offers and figuring out Yahoo’s ownership structure going forward.
On Yahoo’s investor relations there is a very handy chart illustrating who, on the board, is leading the Transactions and Strategic Planning committee that will figure all this out.
It looks like this:
But also inaccurate, we’ve been told by a source close to the situation.
It turns out that David Kenny – who would very much like to be Yahoo’s next CEO – is not leading the transactions and strategic planning committee that will determine Yahoo’s fate.
Perhaps to keep the process “independent” Kenny has removed himself (or has been removed) from that position.
So, who is actually the person who will play this key role in determining Yahoo’s fate?
Meet Brad Smith, CEO of Intuit, Yahoo board member, and chair of the transactions and strategic planning committee:
Here’s his official Yahoo bio:
Mr. Smith has served as a member of our Board since June 2010. Mr. Smith has served as President and Chief Executive Officer of Intuit Inc., a provider of business and financial management software, and as member of its board of directors since January 2008. He was Senior Vice President and General Manager of Intuit’s Small Business Division from May 2006 to December 2007 and Senior Vice President and General Manager of Intuit’s QuickBooks from May 2005 to May 2006. He also served as Senior Vice President and General Manager of Intuit’s Consumer Tax Group from March 2004 until May 2005 and as Vice President and General Manager of Intuit’s Accountant Central and Developer Network from February 2003 to March 2004. Prior to joining Intuit in 2003, Mr. Smith was Senior Vice President of Marketing and Business Development of Automatic Data Processing, Inc., a provider of business outsourcing solutions, where he held several executive positions from 1996 to 2003. Mr. Smith holds a Bachelor’s degree in business administration from Marshall University and a Master’s degree in management from Aquinas College.
We’d love to know more about Brad and his work on the Yahoo board and at Intuit. If you have good information you want to share on background, reach [email protected] or 646.376.6014.
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