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Entries in Resigns (3)

Tuesday
Apr102012

Best Buy CEO Brian Dunn Resigns

KAREN BLEIER/AFP/Getty Images(MINNEAPOLIS) -- After being out-maneuvered by Internet rivals with lower operating costs, Best Buy has fallen on hard times.  Now, the big retailer says its CEO Brian Dunn has resigned and will step down from the board.

“There were no disagreements between Mr. Dunn and the company on any matter relating to operations, financial controls, policies or procedures,” Best Buy said in a statement Tuesday from its corporate headquarters in Minneapolis.  “There was mutual agreement that it was time for new leadership to address the challenges that face the company."

The company said board director G. Mike Mikan will serve as the interim CEO while its looks for a permanent replacement.

Last month, Best Buy announced it would close 50 big box stores this year and test much smaller stores in several cities.

The company has suffered from a double whammy.

Many of the products it sells -- cameras, video game consoles, CDs and DVDs -- have been the victims of technological change as consumers shift buying habits and game playing to the Internet.

Best Buy is also part of the broader decline in big box retailing.  Circuit City and Borders went out of business, while Barnes and Noble stores have also suffered from falling revenues.

Copyright 2012 ABC News Radio

Tuesday
Jan172012

Yahoo! Co-Founder Jerry Yang Resigns

Ethan Miller/Getty Images(SUNNYVALE, Calif.) -- Jerry Yang is stepping down from his positions at Yahoo! Inc., the startup-turned-Internet search giant he helped found, the company said Tuesday.

"My time at Yahoo!, from its founding to the present, has encompassed some of the most exciting and rewarding experiences of my life,” Yang wrote in a letter to Yahoo! board chairman Roy Bostock. “However, the time has come for me to pursue other interests outside of Yahoo!”

Yang’s resignation from the company’s board of directors and “all other positions with the company” – including his roles on the boards of Yahoo Japan and Alibaba Group Holding Limited – are effective immediately.

“As I leave the company I co-founded nearly 17 years ago, I am enthusiastic about the appointment of Scott Thompson as Chief Executive Officer and his ability, along with the entire Yahoo! leadership team, to guide Yahoo! into an exciting and successful future," Yang wrote.

The move has industry analysts speculating what Yang’s departure could mean for the company. The Yahoo! co-founder played a key role in blocking the Microsoft takeover in 2008, “which of course would have been a boon for the company,” Tim Stevens, editor-in-chief of the tech blog Engadget, told ABC News Radio.

“I think his leaving the company will be perceived as a good thing and should certainly make the investors happy,” Stevens said.

And early indicators seemed to show as much. In late trading Tuesday, shares of Yahoo! were up nearly 4 percent.

Yang co-founded Yahoo! in 1995 with David Filo. During his time with the company, Yang served on its board of directors and, for a brief time, as its chief executive officer.

Copyright 2012 ABC News Radio

Thursday
Aug252011

Steve Jobs Resigns; Rumors Swirl that Health Worsened

David Paul Morris/Bloomberg via Getty Images(CUPERTINO, Calif.) -- Steve Jobs' resignation as Apple's CEO has shaken the tech world and is stirring rumors of severe health problems.

"I have always said that if there ever came a day when I could no longer meet my duties and expectations as Apple's CEO, I would be the first to let you know," he wrote in the letter to the company's board of directors. "Unfortunately, that day has come."

Jobs did not elaborate on his reasons for stepping down. While the tech guru has remained tight-lipped on his health status since his pancreatic cancer diagnosis seven years ago, many worry the recent development is a sign his health has taken a turn for the worse.

E-mails to Apple requesting comment were not immediately returned.

Jobs was diagnosed with a pancreatic neuroendocrine tumor in 2004. The disease is known to progress more slowly than the more common form of pancreatic cancer, but it can be no less devastating.

"Some people have described them as cancer in slow motion," Dr. Jonathan Strosberg, attending physician at the Moffitt Cancer Center in Tampa, Fla., told ABC News in January. "Patients tend to live longer, even if it's in its later stages. The average survival is six years from diagnosis."

Treatment options for the disease include hormone therapy, chemotherapy, surgical removal of the tumor and liver transplant.

Jobs' cancer spread to his liver, as this type of tumor often does, and in April 2009, he underwent a liver transplant at Methodist University Hospital in Memphis, Tenn. During that same year, the CEO traveled to Switzerland to receive a treatment that is not yet approved in the U.S., Fortune magazine reported.

But researchers say even after a liver transplant, the likelihood of disease recurrence in the organ "is still really high," said Dr. Richard Alexander, a surgical oncologist at University of Maryland.

Despite taking three medical leaves in the past seven years, Jobs remained Apple's CEO. In March, he received a standing ovation after making a rare appearance to unveil the iPad 2. Clad in his staple black turtleneck, blue jeans and glasses, many people attending the event reported Jobs seemed energetic, but appeared gaunt.

There is not a large amount of data on these pancreatic tumors, but about half of the people diagnosed with them are still alive after five years, said Dr. Simon K. Lo, director of the Pancreatic and Biliary Diseases Program at Cedars-Sinai Medical Center.

Nevertheless, Dr. Otis Brawley, chief medical officer of the American Cancer Society, warned against speculating on a person's life expectancy.

"There is a spectrum of pancreatic cancer," said Brawley. "Some are very slow-growing and indolent, so indolent that they never kill the person. Some are very fast-growing and very aggressive, so aggressive that the median life expectancy is six to eight months after diagnosis.

"I have seen people who have pancreas cancer who have been told they have six to eight weeks to live alive six to eight years later to tell me about it," continued Brawley. "I caution against any kind of speculation."

Despite his resignation, Jobs expressed optimism for the future of Apple.

"I believe Apple's brightest and most innovative days are ahead of it," wrote Jobs. "And I look forward to watching and contributing to its success in a new role. I have made some of the best friends of my life at Apple, and I thank you all for the many years of being able to work alongside you."

Copyright 2011 ABC News Radio







ABC News Radio