Valleywag
And you thought the saga of Lloyd Braun, Yahoo's departed and unlamented Hollywood boss, was over. But there's one fact still to come out. How much does Braun, Terry Semel's pick to run the internet giant's online video shows and other original programming, walk away with?
We're hearing that Libby Sartain, Yahoo's head of human resources, expected Braun to resign. Braun, it's said, heard the day before the reshuffle that his Media Group would be reporting to Jeff Weiner, head of Yahoo's search group.
That would have put him three layers down from Yahoo CEO, Terry Semel, and reporting to an executive more than a decade his junior. A humiliation for any executive, particularly galling for Braun, who came to Yahoo after a successful career in television, where he was head of entertainment programming at ABC.
So, why didn't Braun quit on the news of his demotion? Well, Braun, like some of the other execs hired in Yahoo's big Hollywood push, has generous provisions in his contract if terminated without cause. So you could think Braun wanted to stay because he loved his job that much. Or he was excited to meet the new head of the audience group. The more cynical explanation: Braun's departure won't be cheap.
Comments
He couldn't lead and couldn't execute - sounds like he needed to be terminated with cause instead of paying him a load of cash to leave. Nice article about how cubes are for geeks too. He alienated himself from the people actually get things done and well he gets millions for having accomplished nothing - Welcome to executive America.
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