Yahoo’s co-founders and its chairman have acknowledged that it would take “months, not weeksâ€� to complete a strategic review of company’s business, implying that any decision about reviving or selling the Web portal could take some time.
The message, from the co-founders Jerry Yang and David Filo, along with Roy Bostock, Yahoo’s chairman, came in an e-mail to employees on Friday that was intended to dispel a myriad of reports in the media about Yahoo’s future. Yahoo has been buffeted in recent weeks by technologythe firing of its chief executive, Carol A. Bartz, after a rocky two and a half year tenure during which she failed to turn around the struggling company.
“While we will move with a sense of urgency, this process will take time,� the memo said.
“Months, not weeks. We know that’s a lot of potential distraction, but we believe it will be worth the wait.�
The memo also made a vague reference about Yahoo’s investment bank, Allen & Company, “fielding inquiries from multiple parties that have already expressed interest in a number of potential options.� Presumably, that includes talking to private equity companies like Silver Lake Partners and other companies like Microsoft about potentially selling Yahoo in parts or in its entirety.
“There will be plenty of rumors and speculation as different parties try to advance their agendas in the media â€" but it is important that we not be distracted by the rumors and speculation,â€� the memo said.
The message, from the co-founders Jerry Yang and David Filo, along with Roy Bostock, Yahoo’s chairman, came in an e-mail to employees on Friday that was intended to dispel a myriad of reports in the media about Yahoo’s future. Yahoo has been buffeted in recent weeks by technologythe firing of its chief executive, Carol A. Bartz, after a rocky two and a half year tenure during which she failed to turn around the struggling company.
“While we will move with a sense of urgency, this process will take time,� the memo said.
“Months, not weeks. We know that’s a lot of potential distraction, but we believe it will be worth the wait.�
The memo also made a vague reference about Yahoo’s investment bank, Allen & Company, “fielding inquiries from multiple parties that have already expressed interest in a number of potential options.� Presumably, that includes talking to private equity companies like Silver Lake Partners and other companies like Microsoft about potentially selling Yahoo in parts or in its entirety.
“There will be plenty of rumors and speculation as different parties try to advance their agendas in the media â€" but it is important that we not be distracted by the rumors and speculation,â€� the memo said.
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