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Yahoo Counsel Resigns Following ‘No Confidence’ Vote
Yahoo! General Counsel Ron Bell has resigned after receiving a ‘no-confidence vote from the board. An investigation of security breaches in recent months found that the legal team had enough information to warrant further inquiry but did not sufficiently pursue it.
Yahoo stated the following in a filing:
“In late 2014, senior executives and relevant legal staff were aware that a state-sponsored actor had accessed certain user accounts by exploiting the Company’s account management too.”
“The 2014 Security Incident was not properly investigated and analyzed at the time, and the Company was not adequately advised with respect to the legal and business risks associated with the 2014 Security Incident.”
The Sunnyvale, CA-based company said the committee investigating the incidents didn’t find that the information was intentionally suppressed.
No payments are being made in connection with the move, and CEO Marissa Mayer didn’t receive a bonus last year either amid the investigations and the pending sale of the company’s web operations to Verizon Communications.
