Jerry Yang’s exit from Yahoo! Inc. removes one of the last vestiges of a management team chided by investors for failing to find a buyer or negotiate a sale of stakes in Asian assets worth more than $10 billion.
Jerry Yang is exiting the Yahoo! Inc. board and its management team, the latest casualty of an overhaul that led to the ouster of Chief Executive Officer Carol Bartz and left the company in search of strategic options.
Lenovo Group Ltd., the world’s second-biggest maker of personal computers, said Yahoo! Inc. co- founder Jerry Yang will join the board of directors as an observer amid its expansion into smartphones and tablets.
Dan Loeb, the billionaire founder and principal owner of Third Point LLC, the $14 billion activist hedge fund, has made about $1 billion for himself and his investors from a two-year crusade to increase Yahoo! Inc.’s stock price. He’s been extraordinarily successful; the shares trade for about $33 these days, up from about $13.50 when Loeb started buying them in September 2011.
Months after becoming Twitter Inc.’s finance chief, Mike Gupta is talking to banks about handling the company’s initial public offering, a sign that the most anticipated stock-market debut since Facebook Inc. is getting closer -- and that Gupta will play a key role in it.
Taiwanese banks, once seen as a gateway into China, look more like a trap for private-equity firms including Carlyle Group LP as the mainland market proves elusive and competition at home curbs profits for small lenders.