Yahoo might be in a situation, which shows signs and symptoms of the Silicon Valley Internet giant craving for benefits to fall in its favor. But it seems like its far from reality, as yet another Yahoo executive is replaced. Yahoo CTO Raymie Stata stepped down as CTO of Yahoo. The company even confirmed the same as it notified that Stata would be replaced by Ash Munshi.
“Raymie Stata, CTO, has taken on a newly created role of EIR at Yahoo! to allow him to return to his entrepreneurial roots. Yahoo! is excited to appoint Ash Munshi to the role of CTO. Ash has a well-established career managing successful global technology organizations at the most senior levels with a laser focus on meeting and exceeding customer needs,” the company said in a statement.
Yahoo has called for a compromising move, which would not help its cause in any case. A number of sources had indicated that the stepping down CTO had plans to leave Yahoo, but as the company noted, he would continue his role in the company as an Entrepreneur in Residence. This agreement has been seen earlier in cases of venture firms, wherein the departing execs become EIRs, but this seems to be the first time a big company has routed the departure of an executive to take up the role of an EIR.
Talking about Stata, he was appointed CTO last June, who before that had been the company’s Chief Architect. During his term as CTO of Yahoo, he had reported to Chief Product Officer Blake Irving.
The latest talent shift worsens the condition of the company, which is opting to be sold out. The company rang the warning bells, when it started preparing financial data for its potential buyers.
For years the company has been facing some or the other trouble. Instances like firing of CEO Carol Bartz and opting for a massive strategic review of its options.
However, its not only the employers who are troubled by the turmoil, but even the employees are worried about the company’s future. The concerns relate to the possible change of power, which might be good or bad for the Internet giant.
Yahoo’s potential buyer list includes a quote from the Alibaba CEO Jack Ma, who reportedly said yesterday that the Chinese e-commerce giant has cash reserves of around $20 billion, which they believe would be necessary to buy Yahoo. If Yahoo is sold to Alibaba, it would be a case amongst the minority, as Yahoo in 2005 had provided $i billion as financial backing to help it compete against eBay (EBAY) in China. And now, the positions seem to have had switch of fortunes, which is a rare case.