Jerry Yang's memo to Yahoo staff
This is the text of the e-mail Yahoo Chief Executive Jerry Yang sent to his company's staff Saturday after Microsoft withdrew its offer to acquire the Internet pioneer.
From: jerry yang
To: [Yahoo Employees]
Sent: Sat May 03 19:26 2008
Subject: today's news
yahoos,
today microsoft announced that it has withdrawn its proposal to acquire yahoo!. from the beginning of this process, our independent board and leadership team have maintained that microsoft's offer undervalues the company, and we're pleased that many of our shareholders agreed with us. our board and leadership team now remain focused on maximizing shareholder value and pursuing strategic opportunities that position us for success and leadership in our markets.
of course, we anticipate that microsoft's announcement will draw media attention and speculation as to what happens next for yahoo!. that means the spotlight will be on us - just as it has been for the past three months. i'm incredibly proud of how we've performed under such scrutiny, with last quarter's great financial results as a testament to everyone's hard work and focus. just as we did last quarter, now is the time for us to shine and show what we're made of.
with the distraction of microsoft's unsolicited proposal behind us, we must redouble our efforts. we should focus our energies on continuing to execute the most important transition in our history. how will we do this? by executing against the strategies and priorities we already have in place, and by continuing to deliver indispensable experiences for our communities of users, advertisers, publishers and developers.
in the end, it all comes back to who we are as a company. we have a spirit and a culture that is uniquely yahoo! - and we can't forget that. staying true to who we are has helped us pull through the recent uncertainty we've faced, and will continue to be an asset as we move ahead. there's a reason why we're the only fortune 500 company with an exclamation point at the end of our name, and now is the time to demonstrate what that exclamation point stands for.
over the next several weeks, sue and i plan to visit as many offices as we can to thank you in-person for everything you've done and continue to do for yahoo!. we hope you're as excited as we are about the future that lies ahead for all of us -- together as one yahoo!.
jerry
Stephen Shankland writes about a wide range of technology and products, but has a particular focus on browsers and digital photography. He joined CNET News in 1998 and since then also has covered Google, Yahoo, servers, supercomputing, Linux and open-source software, and science. E-mail Stephen, or follow him on Twitter at http://www.twitter.com/stshank.
As for the contents of the memo, his vapid cheerleading isn't going to stop Yahoo!'s stock price from plunging.
Everything has a price, but it is not always possible for all to see the value.
It is really amazing that we have evolved so notoriously from the days of Oscar Wilde, when the only resource was cynicism; that a community can stand its ground and not fall to the crude wooing of the patriarch, should be praised.
The case just proves that MSF does not understand what a community is, and that the intangible drivers of Yahoo are still healthy. The memo may be just a collection of words to outsiders, as strong, inspiring or bland as any other. But it is not words alone that carry the meaning and value of Yahoo.
Yahoo holds the staff of change '!' for world's that may yet come. Even as a large corporation, it still embodies a potential for transformation and change that has long left MSF. They may lose it, fail or miss to follow their bliss, but it is a risk worth taking, something to be proud of, and this should inspire the organization and users alike.
Irrespective of share value short term, lawsuits and so on, society, environment and the bigger world will benefit. Variety of perspective, experience, values and approaches are essential for any formula of sustainability on a global scale. Possibly, over a shorter horizon MSF would be better at squeezing more juice from Yahoo; but surely they wold be a worse gardener to grow the tree that will see many more and plentiful harvests under its current caretakers.
-
by benjaminstraight
July 14, 2008 4:50 PM PDT
- benjamin straight writes: Good letter from a good leader.
-
Reply to this comment
-
(5 Comments)