18 October 2011 | Author: R Wood Media Intern
Yahoo executive Raymie Stata has stepped down from his role as chief technology officer, and moves into a newly created position - entrepreneur in residence. He will be replaced by Ash Munshi.
Over the course of his career at Yahoo, Strata has been credited with the firm's cloud computing technology, as well as overseeing search and advertising technologies.
The move marks the latest management shift for the struggling Silicon media giant, which also said goodbye to CEO Carol Bartz in September.
Yahoo told All Things D in a statement: "Raymie Stata, CTO, has taken on a newly created role of EIR at Yahoo to allow him to return to his entrepreneurial roots.
"Yahoo is excited to appoint Ash Munshi to the role of CTO. Ash has a well-established career managing successful global technology organisations at the most senior levels with a laser focus on meeting and exceeding customer needs."
Stata was appointed to CTO in June 2010 from his previous role of chief architect. He joined the company in October 2004.
While it isn't uncommon for former executives to take up residency roles at large venture capital firms, Strata's move from chief technology officer to entrepreneur in residence is unusual - typically, executives move on to other companies, whereas Strata will remain at Yahoo.
Speculation about the future and possible sale of Yahoo continues as the company undergoes a strategic review, bearing the brunt of criticisms from shareholders.
Shareholder and Third Point CEO Daniel Loeb - who currently holds a 5.1 per cent stake in the company - has been one of the most vocal about his displeasure in executive management of the board of directors at Yahoo.
He took aim at the board of directors, saying the constant shuffle of the management team highlights the "poor corporate governance Yahoo investors have been saddled with for too long."
"It is also now widely recognised that the board made a gross error in turning down the $31 per share Microsoft bid in 2008, which would have generated significant returns for Yahoo's shareholders. This mistake is all the more frustrating given Yahoo's current depressed stock price of $13.61 per share - far below the company's intrinsic value."
Yahoo shuffles the deck with new CTO
Yahoo executive Raymie Stata has stepped down from his role as chief technology officer, and moves into a newly created position - entrepreneur in residence. He will be replaced by Ash Munshi. Over the course of his career at Yahoo, Strata has been credited with the firm's cloud computing technology, as well as overseeing search and advertising technologies.
The move marks the latest management shift for the struggling Silicon media giant, which also said goodbye to CEO Carol Bartz in September.
Yahoo told All Things D in a statement: "Raymie Stata, CTO, has taken on a newly created role of EIR at Yahoo to allow him to return to his entrepreneurial roots.
"Yahoo is excited to appoint Ash Munshi to the role of CTO. Ash has a well-established career managing successful global technology organisations at the most senior levels with a laser focus on meeting and exceeding customer needs."
Stata was appointed to CTO in June 2010 from his previous role of chief architect. He joined the company in October 2004.
While it isn't uncommon for former executives to take up residency roles at large venture capital firms, Strata's move from chief technology officer to entrepreneur in residence is unusual - typically, executives move on to other companies, whereas Strata will remain at Yahoo.
Speculation about the future and possible sale of Yahoo continues as the company undergoes a strategic review, bearing the brunt of criticisms from shareholders.
Shareholder and Third Point CEO Daniel Loeb - who currently holds a 5.1 per cent stake in the company - has been one of the most vocal about his displeasure in executive management of the board of directors at Yahoo.
He took aim at the board of directors, saying the constant shuffle of the management team highlights the "poor corporate governance Yahoo investors have been saddled with for too long."
"It is also now widely recognised that the board made a gross error in turning down the $31 per share Microsoft bid in 2008, which would have generated significant returns for Yahoo's shareholders. This mistake is all the more frustrating given Yahoo's current depressed stock price of $13.61 per share - far below the company's intrinsic value."
English
German/Deutsch
Norwegian/Norsk
Swedish/Svenska
Italian/Italiano
French/Français
Spanish/Español
Latest News
RSS News Feeds
Related Articles
