TORONTO — The recently ousted chief executive of AlarmForce Industries has filed a wrongful dismissal lawsuit against the home-security company he founded 25-years ago.
Joel Matlin, who was at the home security company’s helm since its inception in 1988 and often the voice and face of AlarmForce in ad campaigns, claims he was dismissed without cause or notice, which goes against the terms of his contract.
By Erick Schonfeld: Yahoo (YHOO) has its new CEO, Scott Thompson, and founder Jerry Yang stepped down from the company and the board a few weeks ago. But all along, people have been asking when is the rest of the Yahoo board going to resign?
Yahoo! chairman Roy Bostock announced Tuesday he was stepping down from the board of the struggling Internet company along with three other directors.Bostock, in a letter to shareholders, also said Yahoo! was in "active discussions" with its partners in Asia on restructuring its holdings in the Alibaba Group and Yahoo! Japan.Bostock said he had decided not to stand for re-election at Yahoo!'s next shareholders meeting, along with board members Vyomesh Joshi, Arthur Kern and Gary Wilson.
Fired Yahoo! chief executive Carol Bartz has resigned as a director of the company's board, whose members she described last week as "doofuses."Yahoo!, in a filing with the US Securities and Exchange Commission (SEC) on Monday, said Bartz had resigned from the Yahoo! board of directors on Friday.Her resignation came a day after Bartz blasted the board of the Internet company in an interview published in Fortune magazine.In the interview, Bartz said Yahoo!'s board wants revenue growth "even though they were told that we would not have revenue growth until 2012."