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Yahoo’s CFO on Silicon Valley Board Function and Dysfunction
Are Silicon Valley companies more prone to dysfunctional boards than other companies? What are the keys for ensuring that a board does not run off the rails? These were some of the questions Computer Economics President, Frank Scavo, asked Ken Goldman, Yahoo's CFO, last month in an on-stage interview at the Future in Review conference in Laguna Beach, Calif. As someone who has served on over thirty corporate boards in his career, Goldman had much to say about what works--and what doesn't--on corporate boards.
Almost Everyone Yahoos
Net revenues for Yahoo! in the first fiscal quarter ended March 31, 2002, totaled $192.7 million compared to net revenues of $180.2 million for the first quarter ended March 31, 2001. EBITDA (earnings before interest, taxes, depreciation, amortization and stock compensation expense) for the first quarter 2002 was $24.4 million, or 13% of revenues, compared to EBITDA for the first quarter 2001 of $0.9 million.