Yahoo Outlines Sale Process In Staff Memo

In a memo leaked today, Yahoo co-founders Jerry Yang and David Filo and chairman Roy Bostock gave employees a “next phase” update. It follows�Yahoo CEO Carol Bartz being removed from her post on September 6th, then rumors swirling that the board was getting closer to officially putting the company up for sale. The new memo reveals that the board of directors with management is conducting a “strategic review” and has hired investment bankers Allen & Co to help and is looking for a permanent CEO:

Dear Yahoos: In our recent all hands meeting, we talked about the Board?s strategic review to help return the Company to a path of robust growth and industry-leading innovation. While our teams are working to evaluate the many opportunities by which Yahoo! can continue building on our success, all kinds of people have been ? and will continue ? speculating in the media about where that work is headed, so we thought it best to provide you with some additional context directly from those of us who are closest to it. We don?t have specific news to share with you today, but we are committed to communicating with you directly from time to time ? especially given the level of external swirl ? so that you know where we are in the process. You can expect periodic updates from us and we encourage you to communicate with us as well. At the heart of what we ... Read More »

Source: http://www.deadline.com/2011/09/yahoo-outlines-sale-process-in-staff-memo/

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