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Business
February 28, 2012
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LightSquared CEO steps down, will remain chairman of the board

By on February 28, 2012 at 2:40 PM.

LightSquared CEO steps down, will remain chairman of the board

LightSquared on Tuesday announced that Sanjiv Ahuja has resigned from his role as chief executive officer. Chief network officer Doug Smith and and CFO Marc Montagner will serve as interim co-CEOs, and Ahuja will continue to serve as chairman of the board. Additionally, LightSquared’s billionaire founder Philip Falcone has been appointed to the company’s board of directors and has reiterated LightSquared’s commitment to low-priced 4G alternatives. “We are, furthermore, committed to working with the appropriate entities to find a solution to the recent regulatory issues,” Falcone said. “We, of course, agree that it is critical to ensure that national security, aviation and the GPS communities are protected. I am confident that working together, we can solve this problem and bring the American consumer the lower priced 4G wireless alternative they need and deserve.” Read on for LightSquared’s press release. More →

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Business
January 17, 2012
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Yahoo co-founder and former CEO Jerry Yang resigns

By on January 17, 2012 at 5:20 PM.

Yahoo co-founder and former CEO Jerry Yang resigns

Co-founder and former CEO Jerry Yang has resigned from all of his positions with Yahoo, the company announced in a press release on Tuesday. Yang co-founded Yahoo in 1995 with David Filo and served as a member of the Board of Directors since March 1995. Yang was also the company’s CEO from June 2007 to January 2009, until he was replaced by Carol Bartz. ”My time at Yahoo!, from its founding to the present, has encompassed some of the most exciting and rewarding experiences of my life,” said Yang in a statement. “However, the time has come for me to pursue other interests outside of Yahoo! As I leave the company I co-founded nearly 17 years ago, I am enthusiastic about the appointment of Scott Thompson as Chief Executive Officer and his ability, along with the entire Yahoo! leadership team, to guide Yahoo! into an exciting and successful future.” Yahoo chairman Roy Bostock praised Yang, calling him both a visionary and pioneer. “We appreciate Jerry’s comments and share his enthusiasm for the company’s prospects. With Scott Thompson leading an outstanding team of Yahoos to deliver innovative products and an engaging customer experience, Yahoo!’s future is bright,” said Bostock. Yahoo’s press release follows below. More →

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Business
September 13, 2011
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Carol Bartz surrenders spot on Yahoo board

By on September 13, 2011 at 12:00 AM.

Carol Bartz surrenders spot on Yahoo board

“I want to make sure that the employees don’t believe that I’ve abandoned them. I would never abandon them.” Those are the words of former Yahoo chief executive officer Carol Bartz who was fired from the firm over the phone last week but who said she would remain on the company’s board. Bartz no longer has a position on the board as of Monday, however, and it is possible that is a result of a recent interview with Fortune during which Bartz said Yahoo “f***ed me over” and called the rest of the company’s board “doofuses.” “On September 9, 2011, Carol Bartz resigned from the board of directors of Yahoo! Inc., effective immediately,” Charles Sipkins, a spokesperson for the board said in an email obtained by Reuters on Sunday. Bartz’s words could have cost her $10 million, according to Fortune which noted the exec had a non-disparagement clause in her contract with Yahoo. More →

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Business
August 25, 2011
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Apple co-founder Steve Wozniak discusses Jobs's departure from CEO role

By on August 25, 2011 at 12:05 PM.

Apple co-founder Steve Wozniak discusses Jobs's departure from CEO role

The tech world erupted Wednesday night as Apple visionary Steve Jobs announced that he was stepping down from his role as CEO, passing the torch to former chief operating officer Tim Cook. Every analyst and pundit who was awake had his or her say on the matter, but one man in particular offered his thoughts from a perspective few have enjoyed. “He really has had to sacrifice a lot to run Apple,” Apple co-founder Steve Wozniak told BYTE in an interview on Wednesday evening. “I mean, just your time, everybody wants you day and night, that’s what I mean by sacrifices. It takes so much out of anyone to be under just contant [sic] pressure and demands like that.” Wozniak continued, “Steve needs now to just have some ‘Steve time.’ He deserves it.” On whether or not Jobs’s departure might have a negative impact on Apple’s business, Wozniak noted, “You’ve got to remember. He was surrounded by great, great people at Apple … and those people are still there. I don’t think the core Apple culture will change because of (Jobs’) leaving, not for a long time. Apple is set up. It just needs to stay financially responsible.” More →

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Business
March 31, 2011
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Acer CEO resigns as company hits rough patch

By on March 31, 2011 at 9:09 PM.

Acer CEO resigns as company hits rough patch

It appears as though Acer founder Stan Shih will get his wish, as news of CEO Gianfranco Lanci’s resignation could mark the start of a much needed overhaul. Shih, who retired from the company in 2004, said on Tuesday that Acer is in need of an overhaul and a shift in focus from being a leader in the PC market to increasing profit margins. On Thursday, Acer announced that Lanci is resigning effective immediately, and company chairman J. T. Wang will step in as interim CEO until the company finds a suitable replacement. “The personal computer remains the core of our business,” said Wang in a statement. “We have built up a strong foundation and will continue to expand within, especially in the commercial PC segment. In addition, we are stepping into the new mobile device market, where we will invest cautiously and aim to become one of the leading players.” Wang continued, “In this new ICT industry, Acer needs a period of time for adjustment. With the spirit of entrepreneurship, we will face new challenges and look to the future with confidence.” More →

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General
March 10, 2011
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Clearwire CEO resigns, two more top execs will soon follow

By on March 10, 2011 at 5:54 PM.

Clearwire CEO resigns, two more top execs will soon follow

Clearwire on Thursday announced that CEO and director of the board Bill Morrow will resign effective immediately. Morrow cites personal reasons for his resignation and he will continue to serve as an advisor to the company while the interim CEO, chairman of the board John Stanton, transitions into his new role. “I would like to commend Bill for his tremendous leadership in building the first U.S. 4G network, adding more than 5 million subscribers, and raising funds in a challenging economic environment,” Stanton said in a statement. “Bill built a strong leadership team which enables us to promote Erik Prusch and Hope Cochran to new roles. Together, the entire management team at Clearwire remains focused on delivering value to its customers and shareholders.” Two other top Clearwire executives, Chief Information Officer Kevin Hart and Chief Commercial Officer Mike Sievert, will be leaving the company as well. Hit the break for the full press release. More →

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General
September 30, 2010
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WSJ: three Sprint executives resign from Clearwire board

By on September 30, 2010 at 10:59 PM.

WSJ: three Sprint executives resign from Clearwire board

The Wall Street Journal is reporting that three sprint executives — Dan Hesse, Keith Cowan, and Steven Elfman — have resigned from WiMAX network-operator Clearwire’s board. Sprint informed the WSJ that they would appoint “independent successor directors” within the next few months; Sprint has named its general counsel, Charles Wunsch, as an observer in the meantime. Clearwire writes that the resignations are due to “recent changes in antitrust laws,” but also admit that the move could provide the company with “added flexibility” in pursuing additional funding. Sprint is the majority owner of Clearwire, holding a 54% position. More →

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General
August 11, 2010
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Oracle CEO Larry Ellison calls HP CEO firing "cowardly"

By on August 11, 2010 at 1:01 AM.

Oracle CEO Larry Ellison calls HP CEO firing "cowardly"

Last Friday, HP CEO Mark Hurd resigned amidst sexual harassment allegations that his former employer chose to make public. Monday, in a letter to the New York Times, Oracle CEO Larry Ellison did not mince words about his thoughts on the forced resignation of Mr. Hurd. “The H.P. board just made the worst personnel decision since the idiots on the Apple board fired Steve Jobs many years ago. [...] In losing Mark Hurd, the H.P. board failed to act in the best interest of H.P.’s employees, shareholders, customers and partners. The H.P. board admits that it fully investigated the sexual harassment claims against Mark and found them to be utterly false.” Ellison went on to say, “publishing known false sexual harassment claims is not good corporate governance; it’s cowardly corporate political correctness.” Hurd, who had been with HP for five years, is set to receive a severance package of cash and stock worth an estimated $28 million. At least he won’t go away empty handed? More →

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General
August 6, 2010
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HP CEO resigned amidst sexual harassment allegations

By on August 6, 2010 at 5:10 PM.

HP CEO resigned amidst sexual harassment allegations

This is not how you want to start your weekend. The Wall Street Journal is reporting that HP CEO Mark Hurd has resigned, effective immediately, due to sexual-harassment allegations. In a statement, Mr. Hurd said: “As the investigation progressed, I realized there were instances in which I did not live up to the standards and principles of trust, respect and integrity that I have espoused at HP and which have guided me throughout my career.” HP said that the former CEO did not violate the company’s sexual-harassment policy, but they did find instances were he violated HP’s “Standards of Business Conduct.” Chief Financial Officer Cathie Lesjak will assume the roll of interim CEO. Hurd had been with HP for the past five years. More →

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