Wed, Jan 4, 2012 -- 6:33 AM
Yahoo's New CEO ... Benefit Corporations
Yahoo's New CEO is PayPal Alum Scott Thompson
Yahoo! has a new CEO today. Just minutes ago the Sunnyvale-based company announced its new chief executive is Scott Thompson, formerly president of the online payment service PayPal. Yahoo! fired its previous CEO, Carol Bartz, back in September after she was unable to turn things around. Yahoo! has a conference call scheduled at the top of the hour.
New State Law Allows For-Profits to Be "Benefit Corporations"
16 California companies are declaring their unique corporate identities through a brand new state law aimed at for-profit companies whose ideals and goals look more like a nonprofit. California companies that make a profit and also give back can choose to become "benefit corporations", and be insulated from lawsuits by investors solely interested in the company's bottom line.