Sam Bankman-Fried Sentenced to 25 Years Jail
In a decisive turn of events that’s captured the attention of both the cryptocurrency world and the global financial community, Sam Bankman-Fried, the founder of the now-insolvent FTX[...]
Anyone looking to buy a multinational technology company? Well it’s your lucky day because it looks like Yahoo is for sale. Company chairman, Maynard Webb writes that Yahoo “The Board also believes that exploring additional strategic alternatives, in parallel to the execution of the management plan, is in the best interest of our shareholders.” In addition, they announced they would lay off 1,700 workers to focus on its most successful products.
CEO Marissa Mayer, a former Google executive back was hired back in 2012 to turn the company around. However it’s been over four years and it seems even her efforts to redeem Yahoo have failed.
Yahoo shares have declined 34% over the last year and down 12% in 2016. Essentially this has encouraged investors like Starboard Value to push for a sale of the core assets. It’s no surprise that shareholders are dissatisfied with Mayer’s progress who are also hinting for her to resign.
via Recode
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