Word: yahoo
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...start an investment fund. His plan: to shake up boardrooms by challenging the cross-shareholding system that protects troubled banks and companies. He attempted a hostile takeover, the first in Japan, of a small electronics company last year. It failed, but Murakami is not deterred. "Look at Yahoo," he says. "It lost money, so suddenly the CEO leaves. Of course! In Japan? Never happens! Now is the time for shareholder power...
...really depressing thing about Koogle's admitting he's not up to the task of turning Yahoo around is that it suggests the job needs someone with even more business acumen. Short of cloning Bill Gates or unearthing the DNA of Henry Ford, that's going to be one tough search. So envy not Jim Citrin, managing director of executive-search firm Spencer Stuart, whose job it is to seek a replacement. "We're looking for a great leader, a motivator," Citrin says. "Less someone with a particular industry background, and more of an athlete...
Athlete is right. The right candidate will have to be used to slogging long distances with little reward; he or she may need to be an Olympic-level ego stroker. Because it grew so big so fast with so many of the same people in charge, Yahoo has become notorious for its insular us-and-them culture. Only one executive--Sue Decker, the CFO--has arrived from the outside and walked into a corner office...
...grew to world importance in six years. Think of trying to manage the Beatles, circa 1970. "You can't come in and start slashing and cutting," says Lowell Singer, senior new-media analyst at banking and management firm Robertson Stephens, based in San Francisco. "You have to respect the Yahoo culture...
...corporate owner might not feel that way, so it's hardly surprising that the proud Yahoo culture is fending off potential takeovers with a two-year $500 million stock buyback plan. That will still leave $1.5 billion in the bank, effectively buying time for the company to figure out how to make more money on its own. Certainly Silicon Valley is rooting for Yahoo to stay independent in a world increasingly dominated by the AOL-Microsoft rivalry. "They do have a certain cachet, being the last Switzerland standing," says Sinnreich. Not that cachet alone pleases Wall Street anymore. If Yahoo...