Bloomberg News

Yahoo Board Member Kenny Says He’s Not a Candidate for CEO

November 02, 2011

(Updates with Bartz’s firing in second paragraph.)

Nov. 1 (Bloomberg) -- David Kenny, a Yahoo! Inc. board member, said he isn’t a candidate to become chief executive officer at the company, squelching speculation sparked by his resignation last week as president of Akamai Technologies Inc.

Kenny, who joined Akamai in 2010, resigned as president to pursue opportunities in the consumer-Internet industry, Akamai said on Oct. 26. Kenny said he will continue to serve on the board of Yahoo, which is seeking a new CEO after the ouster of Carol Bartz in September.

“I want to clarify that I believe Yahoo is a great company with enormous potential, but I am not -- and will not be -- a candidate for the CEO position,” he said in a statement.

Yahoo embarked on a review of its strategy after the firing of Bartz, who had struggled to keep pace with Google Inc. and Facebook Inc. Tim Morse, who became interim CEO in September, said last month that a search for a permanent replacement is “under way,” providing no further details.

Kenny, who will remain a consultant to Akamai, also stepped down as a director at that company. The move appeared to make him a candidate for Yahoo, Donna Jaegers, a Denver-based analyst at D.A. Davidson & Co., said at the time.

Yahoo’s stock fell 4.5 percent to $14.93 today. Shares of the Sunnyvale, California-based company have lost 10 percent of their value this year.

The advertising-industry publication AdAge reported earlier that Kenny wasn’t in line for the CEO job at Yahoo.

--Editors: Nick Turner, Stephen West

To contact the reporters on this story: Dina Bass in Seattle at dbass2@bloomberg.net; Brian Womack in San Francisco at bwomack1@bloomberg.net

To contact the editor responsible for this story: Tom Giles at tgiles5@bloomberg.net


Toyota's Hydrogen Man
LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus