Is this the end of the road for Research in Motion and the once-loved “CrackBerry”?
RIM (RIMM) reported three pieces of awful news Thursday: 5,000 layoffs, a giant quarterly loss and — worst of all — another delay to its next BlackBerry system. Shares plunged 18% Friday on the news.
Former Yahoo chief executive Scott Thompson has disclosed to colleagues that he has thyroid cancer, according to a report.
According to a Wall Street Journal report, sources familiar with the matter said Thompson, 54, disclosed the disease to the company’s board of directors and several colleagues last week, prior to his resignation.
Former Yahoo CEO Carol Bartz received a compensation package valued at $16.4 million in her final year on the job, including a $3 million severance payment after the troubled Internet company abruptly fired her last September.
Bartz, now 63, stands to make even more from the nearly 386,000 shares of restricted stock and nearly 416,000 stock options that vested upon her ouster, according to a Friday regulatory filing from Yahoo Inc. Options and awards she got earlier in the year tallied at $12 million.
New Yahoo CEO Scott Thompson is the latest leader to promise a splashy turnaround — and though it’s an old party line by now, the earnings for his first full quarter on the job were upbeat.
Yahoo (YHOO, Fortune 500) pulled in 23 cents a share on $1.07 billion in sales for the first quarter, the company said Tuesday. Earnings topped analyst estimates, while revenue, up a scant 1% from last year, came in as expected.
But the real focus was on the post-earnings conference call, during which Thompson outlined the streamlining plan he unveiled last week.
Carol Bartz had a rough two years as Yahoo’s CEO. She promised a turnaround for the aging Internet portal, but wasn’t able to pull it off — and was unceremoniously sacked by phone.
Yahoo’s (YHOO, Fortune 500) trying again with new CEO Scott Thompson. The former PayPal president doesn’t have much time to get Yahoo on the righteous path.
“A turnaround can be done, but it’s going to take an enormous amount of time and effort,” says tech analyst Rob Enderle of the Enderle Group. “I’m not convinced that the board or employees have the stomach to wait as long as they need to. This won’t be easy.”