In case you missed it, 10x Management Founder Michael Solomon was on CNBC this week providing advice for Yahoo CEO Marissa Mayer regarding the exodus of top talent from the companies executive ranks.
Read an excerpt here:
Yahoo may have the revenue and scale to make a comeback, but increasingly, experts are questioning whether it is missing a key ingredient: Human capital.
Investors woke up to unsettling news Monday, after Yahoo hired global management consulting firm McKinsey & Co. to help the company decide which units to shutter, sources told Re/code. And amid an ongoing flight of top executives, CEO Marissa Mayer is asking key staffers to commit to several years at the company, sources told Re/code.
“Yahoo’s situation has been very difficult for a decade,” Roger McNamee, co-founder of Elevation Partners, told CNBC on Monday. “There’s a classic problem you see in management you see across the whole economy, where companies reach a certain scale, and then they are convinced that when they want to do something new, they can’t invent it, they have to buy it, because it takes too long to create something from new and they want to have immediate impact. At this point, there’s nothing they can do to salvage this situation.”
At least 12 top-level staff have left this year, up from four last year, SunTrust Robinson estimates. The departures included Chief Development Officer Jackie Reses, Chief of Information Security Alex Stamos, CIO Mike Kail and CMO Kathy Savitt, the Oct. 19 note said.
“A contract or retention bonus — rather than just a pledge of loyalty — would be a better incentive for employee retention,” said Michael Solomon, co-founder of 10x Management.
Read the entire article here: Yahoo’s Exodus is a Problem