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Foursquare Shifts Gears
January 16, 2016
Foursquare cofounder Dennis Crowley has assumed a new executive role, and the company has raised $45 million in a new round of funding led by Union Square Ventures. Crowley has moved from his perch as CEO into the newly created position of executive chairman, which will let him focus on developing new products. Jeff Glueck, who served as COO for the past year, has taken the CEO helm.
Legere Steps Back After Hurling F-Word at EFF
January 12, 2016
John Legere, T-Mobile's loquacious CEO, has apologized to the Electronic Frontier Foundation for what he described as a "color commentary" that drew sharp criticism. "I am a vocal, animated and sometimes foul mouthed CEO," Legere wrote in a blog post. "I don't filter myself and you know that no one at T-Mobile filters me either." Legere offered a mea culpa for "offending EFF and its supporters."
Apple Execs' Salaries Go Up as Stock Goes Down
January 9, 2016
All but one of Apple's top team received a pay raise in 2015, according to a proxy statement filed with the Securities and Exchange Commission this week. While Angela Ahrendts, Apple's senior vice president for retail and online stores, didn't get a raise, she's still pulling down the highest executive compensation at the company at $25.8 million. Her compensation in 2014 was $73.4 million.
Investor Calls for Leadership Changes at Yahoo
January 7, 2016
Activist investor Starboard Value, which has dogged Yahoo over the years, on Wednesday sent a letter to the company demanding it make changes or face a proxy fight. Yahoo "made the right decision" by suspending the Alibaba spinoff, but "the continued downward spiral of Yahoo's core Search and Display advertising businesses" has been "frustrating for us, and likely for you," the letter states.
GM Deal Buoys Lyft
January 4, 2016
General Motors has agreed to invest $500 million in Lyft, and the companies will work together to develop an integrated network of autonomous vehicles, they said in a joint announcement on Monday. As part of the agreement, GM will become a preferred provider of short-term vehicles to Lyft customers, and it will provide them with its OnStar vehicle location services.
Cook Rearranges Apple's Executive Suite
December 18, 2015
Apple on Thursday announced some personnel moves that suggest CEO Tim Cook's future vision for the company. He named Jeff Williams chief operating officer, elevated Johny Srouji to senior vice president, broadened the powers of Senior Vice President of Worldwide Marketing Phil Schiller, and added Tor Myhren as vice president of marketing communications.
Disgruntled Yahoo Investors Suggest Different Paths Forward
December 16, 2015
Two Yahoo investors, acting independently, have publicly called for radical changes or a potential sale of the firm. Both Canyon Capital Advisors and SpringOwl Asset Management apparently were unappeased by last week's announcement that Yahoo would spin off its core Internet business. Canyon Capital Advisors on Friday sent a letter urging Yahoo to find a buyer for its core Internet businesses.
Yahoo Spins in Reverse
December 9, 2015
Yahoo on Wednesday announced that its board of directors decided to suspend plans to spin off its Alibaba holdings and instead will undertake a reverse spinoff, transferring its other assets and liabilities to a newly formed company. The stock of the newly formed company will be distributed pro rata to Yahoo shareholders, resulting in two separate publicly traded companies.
Yahoo Reintroduces a Messenger for This Millennium
December 4, 2015
In the midst of takeover speculation, Yahoo on Thursday reintroduced its standby Messenger app in a more robust version, with a set of features designed to breathe new life into a semi-comatose patient. Yahoo completely rebuilt the app with a focus on sharing images and online conversations. Tapping its Flickr, Tumblr and Xobni properties, Yahoo created some collaborative juice.
Yahoo May Be on Road to Oblivion
December 3, 2015
Up for discussion at Yahoo's next board of directors meeting is the sale of its Bing-powered search, longstanding mail service, aggregator-propped news platform, and the rest of the company's Internet business, according to reports. The possible spinoff of Yahoo's 15 percent stake in Alibaba also may be on the table. Yahoo has struggled mightily over the last decade.
Diane Greene to Lead Google Into Cloud Business Fray
November 20, 2015
Google CEO Sundar Pichai has announced the appointment of Diane Greene, cofounder of VMWare and current Google board member, to lead its cloud business. Google will acquire Bebop, another firm founded by Greene. Bebop is a new development platform that makes it easy to build and maintain enterprise applications. Bebop's team will help Google provide integrated cloud products at every level.
HP, Hewlett Packard Enterprise Go Separate Ways
November 2, 2015
The long-awaited split of HP's personal computer and enterprise operations has taken place, and CEO Meg Whitman clearly faces the most challenging crisis of her career -- trying to save a legacy business from being buried by the sands of time and progress. HP on Monday began its first official business day as a house divided into two brand new $50 billion enterprises.
Why Dell-EMC Won't Follow in HP-Compaq's Footsteps
October 26, 2015
Why do some big mergers succeed while others fail? This seems to be a common question, and some of the research I've read about the Dell-EMC merger tries to connect it to the HP-Compaq merger, which apparently cost Carly Fiorina her job. I covered the HP-Compaq merger at length, and I was not a fan. I actually spoke to Compaq's CEO and argued he should pull out to save his firm.
Twitter Slashes Workforce as Dorsey Aims to Restore Confidence
October 14, 2015
Investors cheered after Twitter CEO Jack Dorsey's announcement to cut up to 336 jobs, or 8 percent of the global workforce, as part of an effort to strengthen long-term growth. Dorsey, the company cofounder who last week reclaimed his former position as chief executive, announced the painful round of cuts in a memo to employees, emphasizing plans to monetize the company's core product offerings.
Musk Draws Barbs for Mean-Spirited Dig at Apple
October 9, 2015
Tesla Motors CEO Elon Musk's recent comments to a German newspaper -- suggesting that Apple is the "Tesla graveyard" due to its hiring of fired Tesla employees -- has struck some nerves in the U.S. Musk dismissed claims that Apple had poached staff, telling the paper that those who couldn't cut it at Tesla would go to work for Apple instead -- and he added that he wasn't kidding.
Can Jack Dorsey Save Twitter?
October 5, 2015
Twitter cofounder Jack Dorsey, who has been running the company as interim CEO for the past three months, has taken the reins for good, the company revealed in a document filed with the SEC. Former CEO Dick Costolo has left Twitter's board of directors, and Adam Bain has stepped into the chief operating officer role. Dorsey will continue to lead Square, the mobile POS company he founded, as well.
Carly Fiorina vs. Donald Trump: The Fascinating Difference
September 21, 2015
Watching the Republican debates has been a fascinating experience, because I started following Carly Fiorina when she first took over HP. I thought then and I still think that Steve Jobs was the only one to match her on-stage presence and skill set. History has proven her assertion that it was HP's board, not it's CEO, that was the primary problem that needed to be fixed while she was there.
Nintendo Inaugurates New President
September 15, 2015
Tatsumi Kimishima emerged as president of Nintendo, following a meeting of the board held Monday. Kimishima, 65, has taken up the positions of representative director and president. Taking the seat of beloved Satoru Iwata, who earlier this year died from cancer, Kimishima now holds the reins of a company that has been preparing to push several bold new initiatives.
Veteran Car Guy to Steer Google's Driverless Cars to Market
September 14, 2015
Google on Sunday named auto industry veteran John Krafcik to head up its autonomous vehicle division. Krafcik, former CEO of Hyundai's U.S. operations, will be the first CEO of Google's 6-year-old self-driving car project. "This is a great opportunity to help Google develop the enormous potential of self-driving cars," said Krafcik, who most recently ran the auto shopper site TrueCar.
The Pichai Era: Google's New Age of Innocence?
August 13, 2015
"A" is for new Google parent company "Alphabet," for Sundar Pichai's "ascension" to CEO, and for a slimmed-down search engine company that seeks to become more "agile." Consumers may wonder if that "A" also stands for "altruism." Pichai's work ethic and congeniality helped drive his ascension to the top, and he'll need both to redirect the mounting mistrust of Google -- his greatest challenge yet.
Now Google Knows Its ABCs
August 11, 2015
Google on Monday announced a restructuring that will make it a wholly owned subsidiary of a new umbrella company called "Alphabet." Product Chief Sundar Pichai will take over as CEO of Google, while Google cofounders Larry Page and Sergei Brin will be CEO and president, respectively, of Alphabet. Pichai "is ... the right person to lead the core Google search effort," said Covestor's Barry Randall.
Sprint Sinks to 4th Place, T-Mobile's Legere Gloats
August 6, 2015
Sprint continued to make progress in its turnaround during Q1, it said Tuesday. However, it apparently wasn't enough to keep the company from slipping to fourth place among major wireless carriers, exchanging places with T-Mobile, which climbed up to third. Among other things, Sprint cut postpaid customer losses in the quarter to 12,000 -- the lowest ever.
Nintendo CEO Satoru Iwata Leaves Legacy of Charm
July 14, 2015
After more than a decade of shaping fan-forward Nintendo philosophies, President Satoru Iwata died Saturday at 55. Iwata had been struggling with cancer for about a year. The one-time programmer and long-time video game enthusiast worked his way through the Nintendo ranks. He succeeded Hiroshi Yamauchi in 2002, becoming the first Nintendo president who wasn't a member of the Yamauchi family.
Haters Force Leadership Change at Reddit
July 13, 2015
The haters have won at Reddit, forcing the ouster of interim CEO Ellen Pao and her replacement by cofounder Steve Huffman. Board member Sam Altman, who led a $50 million investment round in the firm, on Saturday announced Pao's resignation and Huffman's appointment, lashing out at the campaign against Pao. It was "sickening" to see some of the things Redditors wrote about Pao, he said.
Microsoft Cuts 7,800 as It Rethinks 'Mobile First' Strategy
July 8, 2015
CEO Satya Nadella has announced that Microsoft will reduce its workforce by 7,800 as it refines its mobile message and strategy. The company will write down roughly $7.6 billion associated with assets tied to the acquisition of Nokia's devices and services business, Nadella revealed. The restructuring of its own mobile handset division will cost somewhere between $750 million and $850 million.
Microsoft Is Looking More Like the House Nadella Built
June 30, 2015
Some aspects of CEO Satya Nadella's vision for Microsoft are becoming more clear. For one thing, the company's interest in advertising is seriously on the wane. Microsoft reportedly has handed off most of its digital advertising sales business to AOL. Microsoft will retain control of its search advertising sales, however, and Bing will replace Google as the engine powering AOL's consumer searches.
Anatomy of a CEO Failure
June 15, 2015
Much to Apple's dismay, I cover Apple events. One of the questions that frequently came up during its recent developer conference centered on Tim Cook. Was he becoming Steve Ballmer? The implication was that Steve was a failure at Microsoft, so the comparison didn't reflect well on Cook. I think this idea is wrongheaded, although Tim Cook's situation bears some similarity to Steve Ballmer's.
Costolo Out in Twitter's Latest Round of Musical Chairs
June 12, 2015
Twitter is changing CEOs for the fourth time in four years. Incumbent Dick Costolo is stepping down July 1 and company cofounder Jack Dorsey will take over as interim CEO while the board searches, both internally and externally, for a suitable candidate to hold the post. Costolo will remain on Twitter's board, and Dorsey will continue to serve as CEO of Square, which he also cofounded.
HP vs. Apple: The Contrast Is in the Turnaround
June 1, 2015
I was at Dell's analyst conference last week and HP Discover is this week. As I was considering the contrast between the two companies, I started to think the contrast between Apple and HP is greater. There is a lot of cross-pollination between the firms -- and given how often Apple has embarrassed HP in the market, you'd think HP would have learned from its mistakes. Apparently, it hasn't.
5 Reasons Jony Ive's Step Back Is Apple's Step Forward
May 28, 2015
There seem to be two major reactions to the "promotion" of Apple's Jonathan Ive to the newly created position of chief design officer: first, that he deserves the recognition and reward; and second, that this is the beginning of the end for Jony Ive's tenure at Apple. Apple released the news in the UK... on Monday, which was the Memorial Day holiday in the United States.
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