Posts in category Boardroom


Boardroom

What Will Rise From Uber’s Ashes?

There has been quite a bit of churn in the waters around Uber during the last few years. Now that founder Travis Kalanick is no longer CEO, what does the future look like for the company, workers, drivers, investors and customers? Will Uber continue to grow and lead, or has it seen its best days? Most people connected to the company probably would say the same thing: They want calm but rapid growth.

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Boardroom

Uber Ousts Top Deputy as Fate of CEO Kalanick Hangs in Balance

Uber Technologies on Monday lost its second-most-important executive in a shakeup stemming from an internal investigation into sexual harassment charges. The changes at the top reportedly could include the temporary loss of Uber’s founder and chief executive, Travis Kalanick. Emil Michael — who served as the company’s senior vice president of business and a key lieutenant to Kalanick — is out.

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Boardroom

Uber Boss Practices Brinksmanship With Apple

Uber CEO Travis Kalanick has a reputation of playing fast and loose with rules, but it appears that a maneuver his company performed on iPhones took his ride-hailing outfit to the brink of ruin a couple of years ago. When Apple discovered Uber was planting code on iPhones that persisted on the devices even after the ride-hailing app was removed, Apple CEO Tim Cook gave Kalanick a warning.

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Boardroom

Angry Investor Aims to Kick Yahoo’s Board to the Curb

Starboard Value last week launched a proxy fight to replace the board at Yahoo, blasting the company’s management and nominating its own slate of board members. One of Yahoo’s largest investors, Starboard has a 1.7 percent stake worth about $570 million. It has been “extremely disappointed with Yahoo’s dismal financial performance,” said Jeffrey Smith, managing member of Starboard.

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Boardroom

Yahoo Sets Itself Up for Buyout

Yahoo on Friday announced that it has hired banking advisers and formed a committee to explore its strategic alternatives, the latest indication that it’s serious about pursuing a possible sale. The committee, along with advisers Goldman Sachs, J.P. Morgan Chase and PJT Partners, will identify and recommend to the board transactions that it deems beneficial to employees and shareholders.

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Boardroom

Foursquare Shifts Gears

Foursquare cofounder Dennis Crowley has assumed a new executive role, and the company has raised $45 million in a new round of funding led by Union Square Ventures. Crowley has moved from his perch as CEO into the newly created position of executive chairman, which will let him focus on developing new products. Jeff Glueck, who served as COO for the past year, has taken the CEO helm.

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Boardroom

Apple Execs’ Salaries Go Up as Stock Goes Down

All but one of Apple’s top team received a pay raise in 2015, according to a proxy statement filed with the Securities and Exchange Commission this week. While Angela Ahrendts, Apple’s senior vice president for retail and online stores, didn’t get a raise, she’s still pulling down the highest executive compensation at the company at $25.8 million. Her compensation in 2014 was $73.4 million.

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Boardroom

Investor Calls for Leadership Changes at Yahoo

Activist investor Starboard Value, which has dogged Yahoo over the years, on Wednesday sent a letter to the company demanding it make changes or face a proxy fight. Yahoo “made the right decision” by suspending the Alibaba spinoff, but “the continued downward spiral of Yahoo’s core Search and Display advertising businesses” has been “frustrating for us, and likely for you,” the letter states.

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Boardroom

Yahoo Spins in Reverse

Yahoo on Wednesday announced that its board of directors decided to suspend plans to spin off its Alibaba holdings and instead will undertake a reverse spinoff, transferring its other assets and liabilities to a newly formed company. The stock of the newly formed company will be distributed pro rata to Yahoo shareholders, resulting in two separate publicly traded companies.

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Boardroom

Yahoo May Be on Road to Oblivion

Up for discussion at Yahoo’s next board of directors meeting is the sale of its Bing-powered search, longstanding mail service, aggregator-propped news platform, and the rest of the company’s Internet business, according to reports. The possible spinoff of Yahoo’s 15 percent stake in Alibaba also may be on the table. Yahoo has struggled mightily over the last decade.

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