Tilak Bisht

SEO Consultant & WordPress Web Designer

Yahoo’s chief resigns

June 20, 2007 By Tilak

Terry S. Semel & Jerry YangAccording to NewYork Times Terry S. Semel stepped down on Monday and handed the reins of the struggling search company to co-founder Jerry Yang after six years on the job. The company announced co-founder Jerry Yang will take his place, with Executive Vice President Sue Decker taking on the role of president. The following is a letter sent from Semel to Yahoo’s board of directors.

Mr. Yang and Mr. Semel said they had been considering the changes for some time, after Mr. Semel notified the board that he wanted to step down sooner rather than later. “I saw myself much more as a coach than a player going forward,” Mr. Semel said in a conference call.

Mr. Yang said in an interview Monday that some of his primary functions would be to reinvigorate the company and attract top talent, not to overhaul its strategy. “We have a very clear strategy in place and we are executing on it,” he said.

Jerry Yang has also posted a blog post about his new role.

Updated: You may also check out:

The Official Press Release

Letter from Terry Semel to Yahoo! Board of Directors

Letter from Yahoo! Board of Directors to Terry Semel

Filed Under: Business, Yahoo!

Lakshmi Mittal richest in Europe

April 30, 2007 By Tilak

Lakshmi Mittal is doing what he does best. Making money.

For the third successive year, the Indian stell tycoon is top of a list of the super rich in Britain – who have also trebled their wealth during Tony Blair’s reign as Prime Minister.

Mittal’s own wealth galloped to £19.250 billion from £14.881 billion last year, increasing the distance between him and second placed Russian oligarch Roman Abramovich (£10.800 billion) by almost £480 million within a year. Mittal’s growing wealth has been attributed to his successful takeover of Arcelor.

He is also the richest among the 50 richest in Europe, while the Hinduja brothers are at number 25. Amonth the 50 richest in the world, Mukesh and Anil Ambani, with a wealth of £19.6 billion, come in at number five, followed by Mittal at number six. Predictably, the top two positions stayed with two familiar names – the Walton family (Wal-Mart) topping with £42.6 billion, followed by Bill Gates with £28.7 billion.

Filed Under: Business

Experian Acquires Hitwise

April 19, 2007 By Tilak

Experian has acquired Hitwise, a leading Internet marketing intelligence company. The approximately price is $240 million. Hitwise also posted the press releases on the announcement.

Filed Under: Business

Dell’s low-cost PC in China

March 22, 2007 By Tilak

According to Reuters, Dell Inc. the world’s second-largest personal computer marker, unveiled a low-cost PC on Wednesday for China, its fastest-growing market. The PC is priced from 2,599yuan to 3,999 yuan (about $335 to $520), the company said in a statement. Dell ranks third in China behind homegrown powerhouse Lenovo Group Ltd and Founder Technology York Li.

Filed Under: Business

Barclays, ABN Rapid Takeover Talks

March 21, 2007 By Tilak

British bank Barclays and Dutch bank ABN AMRO aim to agree to tie-up within 30 days. Barclays and ABN said late on Monday they were in “exclusive preliminary discussions”. No details of any deal were released, but Barclays is likely to have to pay more than $80 billion for its rival. It would be Europe’s biggest ever financial services deal and create a bank work more than $160 billion.

Filed Under: Business

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