BusinessCompany NewsMicrosoft plans to get rid of Yahoo! execs

Microsoft plans to get rid of Yahoo! execs

Microsoft could exercise its right as a shareholder to nominate executives of its own choice to the board, who would then force the company into accepting the takeover

Yahoo! CFO Blake Jorgensen could see his time at the Internet company halt if
Microsoft’s planned boardroom coup goes ahead in the next six weeks.

The search engine company is faced with the tough call of either accepting
the £23bn hostile takeover bid from Bill Gates or enter merger talks, the
Times reported.

The plan to get rid of the current executives came on the back of news that
Yahoo! is considering a tie-up with Internet rival Google, in order to avoid the
takeover from the software giant.

Microsoft executives are believed to have already signed a ‘sledgehammer’
tactic of ousting most of the Yahoo! board in order to force through the deal if
the company does not enter talks or accept the takeover. Microsoft may also
exercise its right as a shareholder to nominate executives of its own choice to
the board, who would then force the company into accepting the takeover.

Last week Jorgensen announced a cut of 1000 jobs.

Further reading:

Yahoo
CFO says company plans to cut 1,000 jobs

Microsoft
is ready to oust Yahoo! board to achieve swift takeover

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