• To do list

    Keep separate lists to ensure your to-dos don't get cluttered and gain stress-free productivity, Ian Mann.

  • Clueless leaders

    Zim's leaders are clueless about managing the economy or leading the nation, says Malcom Sharara.

  • Govt is out of touch

    Journalists seems to know more than those paid to govern us, says Mandi Smallhorne.

All data is delayed
Loading...
See More

Yahoo narrows down CEO search

Jul 06 2012 09:01
Reuters

New York - The race to become Yahoo's next chief executive appears to have come down to two candidates: current interim CEO Ross Levinsohn and Hulu CEO Jason Kilar.

According to two sources with knowledge of the situation, Levinsohn and Kilar are the last names left on the Yahoo board's shortlist for permanent CEO of the company.

Yahoo, the once iconic internet company, has struggled to find its footing in the new digital world dominated by the likes of Apple, Google, Facebook, and Twitter.

The company has essentially been rudderless since turning down Microsoft's $44bn takeover offer in 2008. Since that time, Yahoo has plowed through four CEOs in as many years, among them Terry Semel, co-founder Jerry Yang, Carol Bartz, and most recently, Scott Thompson.

Yahoo's board also had on its shortlist Jonathan Miller, currently News Corp's Chief Digital Officer and former CEO of AOL, and wanted to speak with him about the position, but Miller declined to pursue discussions, said a source familiar with his thinking.

According to this source, Miller put the brakes on any talks with Yahoo's board out of respect for his friendship with Levinsohn, who has long wanted to run a company as CEO. Prior to their current positions, Miller and Levinsohn ran an investment firm together named Fuse Capital.

Kilar, however, has no such personal relationship with Levinsohn, which is why he is still on the shortlist.

Executive recruiting firm Spencer Stuart is leading the search on behalf of Yahoo.

While Kilar is being seriously considered for the role, Levinsohn is still thought of as the favorite to take the position on a permanent basis, according to one of the sources.

Since taking over as interim CEO in May after Scott Thompson's forced resignation, Levinsohn has been acting and making decisions as if he has already won the seat, this source said.

Levinsohn hired former Google director and media veteran Michael Barrett as Chief Revenue Officer to help lead Yahoo's efforts to reemerge as an entertainment and information destination that wins advertising revenue.

Those close to Levinsohn have said he is committed to building out Yahoo's own video programming and striking more syndication deals in pursuit of ads that command a higher price, and Barrett's hiring underscores that strategy.

Miller and Levinsohn were not immediately available for comment. A spokesperson for Yahoo's board, Charles Sipkins, declined comment, as did a representative for Hulu.

yahoo

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Comments have been closed for this article.
 

Company Snapshot

We're talking about:

THE DEBT ISSUE

Debt is one of the biggest financial issues facing South Africans today. Find out how you can avoid and manage your debt with Fin24 and Debt Rescue.
 

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

Labour’s call for a cap on salary of high earners is?

Previous results · Suggest a vote

Loading...