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June 20, 2011 09:51 pm GMT
Members of Skype's investor syndicate areadamantlydenying the Sunday Bloomberg story that implied that several Skype executives were fired because private equity firm Silver Lake Partners wanted to save a few bucks paying out the proceeds of the Microsoft-Skype deal.We spoke with one just now who reiterated what other unnamed investors have said in the press this morning: That the decision was 100% new CEO Tony Bates' call. This investor went further to say that there was absolutely zero board discussion about firing these executives,directly countering Bloomberg's claim that directors were weighing in on who should be fired.And here's the kicker: The executives in question will bereceiving75% of what they would have made off the sale anyway. The remaining 25% is such a small amount of money that it wouldn't even register on Silver Lake's radar, this investor said. Or as this person put it more bluntly: "It wouldn't have been worth the time to make the phone call, not to mention Tony would have told them to fuck off anyway."
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/IpfXBM5spOY/
Skype Investor: "Amount Saved on Firings Wouldn't Have Been Worth the Phone Call"
Members of Skype's investor syndicate areadamantlydenying the Sunday Bloomberg story that implied that several Skype executives were fired because private equity firm Silver Lake Partners wanted to save a few bucks paying out the proceeds of the Microsoft-Skype deal.We spoke with one just now who reiterated what other unnamed investors have said in the press this morning: That the decision was 100% new CEO Tony Bates' call. This investor went further to say that there was absolutely zero board discussion about firing these executives,directly countering Bloomberg's claim that directors were weighing in on who should be fired.And here's the kicker: The executives in question will bereceiving75% of what they would have made off the sale anyway. The remaining 25% is such a small amount of money that it wouldn't even register on Silver Lake's radar, this investor said. Or as this person put it more bluntly: "It wouldn't have been worth the time to make the phone call, not to mention Tony would have told them to fuck off anyway."Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/IpfXBM5spOY/
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