/// Exclusive: Yahoo Board Hires Spencer Stuart for CEO Search

June 4, 2012  |  All Things Digital


Yahoo’s board has hired Spencer Stuart in yet another CEO search, although sources close to the company said that interim CEO Ross Levinsohn is the prime candidate for the position at this point. “It’s Ross’ to lose,” said one person close to the situation. Levinsohn was appointed to the job after the Silicon Valley Internet giant’s last leader, Scott Thompson, was ousted after a resume-padding controversy. At the time, the board indicated that there would be a search, although Yahoo Chairman Fred Amoroso said in an employee meeting that he was hoping Levinsohn would get the job. Still, the move by the company’s directors could add more uncertainty to the already volatile mood at the Silicon Valley Internet giant, which has been rocked by a series of major changes in recent months. Along with the Thompson fracas, the directors have had a massive turnover — including adding activist shareholder Daniel Loeb of Third Point. Interestingly, all of the 11 directors are considered independent, according to a proxy filing Yahoo made earlier today. And — in my humble opinion — they are also all pretty aggressive in their interest in helping run Yahoo beyond the typical board’s job of overall corporate governance. Case in point: Several board members, along with Levinsohn, have been involved in serious negotiations to settle its patent infringement litigation with Facebook. Oh, it’s a very mouthy group — which is likely to give pause to any leader that Spencer Stuart might query about the very difficult job of turning around Yahoo. (I feel for anyone who runs Yahoo, listening to all that expected backseat driving and kibitzing.) The selection of Spencer Stuart is interesting, given that Heidrick & Struggles had done Yahoo’s previous search. But that talent firm had gotten into it with Thompson, who had accused Heidrick of adding a fake computer science degree to his bio

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Exclusive: Yahoo Board Hires Spencer Stuart for CEO Search


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