Sunday morning greeted us with the news of Scott Thompson’s resignation as the CEO of Yahoo. The decision was very important to the honor of the company and to the IP community as a whole. Résumé inflation should never be an acceptable practice and when it is the leader of the company that demonstrates such a lack of integrity or negligence, it must be corrected. I understand that this episode was leveraged by some of the major investors to push for previously desired changes to the board along with his resignation. And we all know Yahoo is on the ropes as it attempts to maintain any significant mindshare in the Internet community. Though, Yahoo has been my home page for 20 years and is my one and only personnel email account (email@example.com), it has become increasingly irrelevant as Google, Facebook and others bring about a sea of change and innovation to the Internet.
Yahoo’s future is now even more uncertain as in addition to Thompson, five board members were also asked to leave. While the easy way out would have been to hunker down and weather the storm, the company’s integrity and management team leadership would have been seriously undermined.
Yahoo requires more than restructuring and improved brand management. For Yahoo to be successful, they must become relevant again. That means the development of a vision which can revamp the service and products of the company. It will necessitate a couple of brilliant acquisitions and or partnerships to introduce imperative innovation and excitement.
I do not applaud the methods of Third Point but in this case, the issue driving the changes demanded correction.