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Third Point LLC, the hedge fund that owns 5.8 percent of Yahoo, is taking its case against the company's current strategy to the shareholders. Specifically, the fund is asking shareholders to vote in an alternate slate of directors in an attempt to oversee new CEO Scott Thompson as he struggles to turn the company around.

Yahoo snagged Thompson from eBay in January following last September's ouster of former CEO Carol Bartz. Co-founder Jerry Yang resigned shortly afterwards, while several board members announced that they would not seek re-election this year.

But those changes weren't enough to … Read more

Yahoo has frozen new hiring and may be forced to lay off existing employees, according to AllThingsD.

Word has reportedly come down not to fill the hundreds of job openings currently available as a first step toward cutting costs. As second step, layoffs of current support staff are expected to be "small and selective," though details are still being worked out.

After a year marked by weak quarterly revenue, takeover talk, and the ouster of former CEO Carol Bartz, Yahoo managed to deliver third-quarter results higher than forecast.

But Wall Street is once again anticipating shaky results when … Read more

Yahoo will become a technology giant again, helping to shape how people use the Internet in the next decade, incoming Chief Executive Scott Thompson promised today.

The Internet has changed a lot in the last 20 years, but it's really still in its infancy, he said in his first public remarks today as Yahoo's CEO-to-be. Yahoo will help the Net mature by "returning to a path of industry-leading innovation," he said.

"What happens in the next five or the next ten years is hard to imagine. I expect Yahoo will be part of that," … Read more

Yahoo announced its new chief executive today, naming PayPal President Scott Thompson to become its new leader and a board member starting on Monday.

"Scott brings to Yahoo a proven record of building on a solid foundation of existing assets and resources to reignite innovation and drive growth, precisely the formula we need at Yahoo," Chairman Roy Bostock said in a statement today, capping off a four-month search.

Thompson said in a statement that he wants to "deliver Yahoo's next era of success" by dealing with both Yahoo advertisers and users. The statement continues:

Yahoo … Read more

As Yahoo's board and executive team consider a growing number of acquisition bids, the company's employees are considering other opportunities, a new report claims.

Speaking to The Wall Street Journal in a story published today, several unnamed Yahoo employees say that morale is on the decline at the company, causing many folks to think seriously about going elsewhere.

"If you're not growing, if you're not giving people challenging things to work on, if you're not holding out the promise of creating some personal wealth during one of the frothiest technology markets in modern history, … Read more

Following the sudden ousting of Carol Bartz, rumors naturally and quickly swirled about who would be making the short list to replace her as Yahoo's chief executive officer.

One potential candidate was former Akamai president and director David Kenny, who revealed his resignation when the web acceleration application development company announced earnings last week. Although he will continue to serve as a business strategy consultant at Akamai, his exit is fueled reports that Kenny is a prime candidate for the Yahoo CEO post.

However, now Kenny is denying any potential move up to the head of Yahoo and made … Read more

On Yahoo's third-quarter earnings call this afternoon, Tim Morse took time to answer just about every question, except the ones that analysts most wanted to hear: When will Yahoo's board decide what to do with the company?

Despite Yahoo's better-than-expected results, questions about its future are the most pressing ones. The company, which fired its chief executive Carol Bartz last month, has increasingly been rumored to be considering takeover offers. A raft of companies have lined up to kick the tires, according to various reports, including Silver Lake Partners, Andreessen Horowitz, and the Chinese Internet company Alibaba.… Read more

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Recently fired Yahoo CEO Carol Bartz has resigned from the company's board.

The move was made Friday, three days after she was sacked by that same board, The Wall Street Journal reports, citing an unnamed source.

At the time of Bartz's ouster, the board gave no reason for its decision, but Yahoo had been performing in a lackluster fashion for some time, and Bartz's 30 months or so at the helm had done little to change that.

In an interview with Fortune magazine following the firing, the notoriously colorful Bartz gave her own reasons, saying the board … Read more