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Yahoo Marissa Meyers CEO many heads are better than One







Another bites the Dust

Yahoo can't seem to figure out how to turn itself around. Today it announced a new "aggressive strategic plan" to pare itself down to focus on its strength in its Q4 earnings report. That plan involves laying off 15 percent of its workforce and closing five international offices.



The offices closing will be in Dubai, Mexico City, Buenos Aires, Madrid and Milan. The layoffs will mean the company will have only 9,000 employees by the end of 2016. The overall goal is to reduce operating costs by $400 million in the coming year.


The company brought in $1.27 billion in revenue during the quarter. The company had a huge writedown of $4.5 billion. Ouch.


In a statement CEO Marissa Mayer said, "today, we're announcing a strategic plan that we strongly believe will enable us to accelerate Yahoo's transformation. This is a strong plan calling for bold shifts in products and in resources."




During the earnings' livestream Mayer noted that when she took over, the company was full of legacy businesses and a declining revenue stream that had to be shuttered. 

She noted that the Mavens (mobile, video, native and social) sector was a revenue source that had an "incredibly fast growth line of business."




Mayer also said that it needs to be engage its users and will focus on its top businesses, Search, Mail and Tumblr. It will also be even more bullish on mobile with upcoming changes to the sports and finance apps and the recent change to the search app.

Comments from well known Tech Site   



Yahoo needs a real CEO to restructure. Period. Marissa Meyers was a 'fun' experiment and yes, she was essential to Google, and yes, Yahoo got off on the fact that they poached her from Google, and it raised their confidence level that they were at Google playing level, but they weren't, they aren't and they sure as sh*t won't be anytime in the foreseeable future.


There's this - wrong - idea that if you're a big shot from a successful company that automatically implies you had something to do with the success.

A lot of execs sit around while others make things happen.

She is a clear case of someone who has shown when it comes down to real executive leadership, getting paid millions to turn around a company, she failed.Big time.

Oh, but I'm sure another startup will gladly pay her more millions. I'll never understand why companies' memories are so short when it comes to loser execs.



Many heads are better than one



The UK workforce is comprised of about 23 million people, approximately 10 million are available to hire at a level of £27,000 / $54,000 (realistically, without the London weighting, it's around 20>21 K) but the pool of people who are available, competent and experienced enough to take on a FTSE 100 CEO role is much smaller. As a start up most of the team will work almost 24 / 7 driven by the end game , to get a share of the profits ,albeit through initial public offering in a few years time, or a yearly bonus, which I might add is always performance based.

So to the many legions of start ups, venturing out ( pun intended ) would you set a salary of £500 K / $1M for a CEO yet to prove her/him self ? of course not;Though it's happening out there, irrespective of past form, when you set up a new start up esp tech ,the rules are simple economical, rent, furniture and salaries for all etc etc.
Tech companies can nose dive, within months, and when there are so many, who may or may not be of CEO calibre. who for the fraction of the cost, who are willing and able, with all hands on deck.
You get more bang for your buck, from those who are hungry, why? the desire to succeed, is a far greater and powerful tool,in contrast to a CEO whose been there and worn the hat;more importantly whose drive is muted, the large carrot on the short stick, is already, sitting in their bank account.
Can we pay a competitive rate, to attract the best CEOs for our top UK businesses? Yes for an already profitable FTSE / Nasdaq company,why not if performance has been delivered to the company in question, 

Remember tech years, are like dog years, with respect ,you can't teach an old dog, new tricks,technology grows very fast. As a start up, the money invested ,raised, should not be seen as a gravy train, by all and sundry, who think they can jump aboard ,because of what they did 10 years ago.What's worse is trying to justify, that running a tech company, is like desktop publishing ( pun intended :).When a CEO has been in under-performing  for public listed business close to 2 years.
Alarm bells should be ringing for board members and stock investors to make a change.

Allowing the hemorrhage to continue, will only make matters worse down the line.

It always amazes me that in today's workforce ,their are so many bright talented people  willing to work 100 x harder, for a fraction of the cost of CEO take home pay .

And yet their board and investors of these public listed companies fail to comprehend this.  

I have seen. how,a ceo was bought into run a portal, I worked for, from a well known "software" company,within 8 months the company floundered, sold on. They would always buy pizza and jot a way on a board regurgitating strategy, from "the old workplace"; a nice person, but not, the foggiest, what their role entailed.Even a GOP style debate to find Yahoo next CEO, would do wonders PR wise .

The corporate world their is no sympathy  , adding personal background history to win hearts of minds of an investor driven business , is contrary to what they want to see and not hear about.

There is also a huge talent pool for boards and companies scouting for talented individuals.
 

diversity-women-tech-470691426-s

The Boardlist is a marketplace for female board talent. Designated endorsers, who are mostly tech investors and executives, recommend women who are qualified to serve on corporate boards; startups can cull the database to find candidates. “Most startups have independent board seats, and too often those board seats go empty because founders don’t get around to filling them,” says Cassidy, who also is CEO of video-shopping startup Joyus. She wants to make it easy for founders to fill those seats by selecting from more than 1,000 qualified female candidates. 


There are now 200 endorsers drawn from companies like Airbnb, Lyftand eBay as well as venture outfits like Greylock Partners and Accel Partners.




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