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The Yahoo fallout continues...
June 23, 2008Generally when big M&A deals fall apart, there is a flurry of shareholder lawsuits (you should have sold!) or the saber-rattling of noisy investors (Icahn begins to buy shares and intimidate the Board). Little appreciated is the profound impact on employees and the corporate culture. That’s when good leadership is needed the most.
The New York Times reported on Friday that Yahoo’s senior leadership ranks have been gutted ever since Microsoft ended its pursuit of the search engine company. Executive vice presidents are jumping ship and Microsoft is now aggressively recruiting Yahoo’s vaunted software engineers.
Jerry Yang was supposed to reignite the passion at Yahoo, but if retention is a
measure of confidence in the company’s direction, it didn’t happen. Wall Street is now looking at this brain drain from a valuation perspective. A good reminder for all of us that ultimate value is not technology, it’s talent, something that good leadership should know.
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