Yahoo eats CEOs. The perennially ailing company lures talented managers into the corner suite of its Silicon Valley headquarters, then it sucks their good reputations out of their veins and casts them aside. They inevitably pass through the revolving door an empty shell of their former selves.
Over the four years that Kodak’s stock fell 80 percent, the photography icon’s private jet made its way several times a year to Vigo, Spain — the balmy fishing town that is the hometown of CEO Antonio Perez.
Whether new Apple CEO Tim Cook can live up to predecessor Steve Jobs’s reputation as the so-called “innovator-in-chief” will take some time to determine. But an email memo sent by Cook to Apple employees early Thursday shows he has no intention of steering Apple away from its current path. “Apple is not going to change. I cherish and celebrate Apple’s unique principles and values,” Cook said in the message, which was first published by Ars Technica. Read the full memo below:
Anyone who thinks the word “executive” in CEO stands for a person who actually executes decisions and strategy should think again, at least according to Technicolor CEO Frederic Rose.
It’s been a while since German business software maker SAP has stated exactly how much of a market share it has. And no matter how much journalists prod and badger SAP CEO Leo Apotheker he will not divulge that figure. Even when analysts say they believe that SAP’s main rival Oracle has been taking market share from the German company, Apotheker will not be moved to shed some light on the issue. In several TV interviews on Wednesday, the day SAP presented its second-quarter results, and in a call with analysts, Apotheker not only declined to provide even a range, in fact he could not bring himself to call his company’s fiercest rival by name. “We have about twice as much market share as Number 2,” he said. In the Harry Potter series the hero is the only one who calls his nemesis by name – Lord Voldemort – instead of “he who must not be named”. C’mon Leo, if Harry Potter can do it, so can you.
Germans love to see the mighty fall just a little bit more than the rest of the world, and freshly ousted Porsche CEO Wendelin Wiedeking is a perfect candidate. Yes, he made tiny, almost bankrupt Porsche successful again but did he have to be so smug about it? And was he really worth the millions of euros he raked in every year in a country where executive pay is a thorny issue? His salary, which made him the best paid German manager by far, was a topic of endless fascination in the German media. Wiedeking never divulged how much he made but unapologetically said he deserved what he earned — estimated to have been 80 million euros last year. Even before his dismissal was official, speculation swirled about how extraordinary his severance payment would be, with some putting the figure at 250 million euros. In the end it was less but still a handsome sum of 50 million euros, considering he leaves Porsche with a huge mountain of debt. As Wiedeking climbs off the throne, he is eager to burnish his blue collar credentials and in Robin Hood style announced he would donate what’s left of his payment after taxes to charity. Some of it will go to a foundation for Porsche staff, some into projects to create new jobs and, in a final swipe at his critics, he promised to give to a charity for “elderly and suffering journalists”. Take that, hacks.
We’ve recently been wondering who the real boss is at Martha Stewart Living Omnimedia. You know, the supreme chief, the head honcho, the generalissimo. At one point we noticed the management team consisted of two co-chief executives, an executive chairman as well as a chief financial officer. All this with Martha herself hovering in the background.
The big highlight of the McGraw-Hill media summit in New York when NBC Universal’s Jeff Zucker took a couple of shots at Jon Stewart.