US-Iran war CJP protest in Delhi US-Saudi nuclear deal Wildfires in Europe El Nino

Skype Ousts Executives To Avoid Pre-Deal Payout

Just last week, we reported about the software giant, Microsoft getting a clearance from the U.S. Trade Commission to proceed with the buyout of Skype, the

Anuradha Shetty|Jun 20, 2011, 17:49:21 IST

Just last week, we reported about the software giant, Microsoft getting a clearance from the U.S. Trade Commission to proceed with the buyout of Skype, the popular internet-calling service for a whopping $8.5 billion.

Troubled..

Today, it is being reported that while the deal nears closure, the internet-calling service is showing the door to its senior executives, thereby considerably slicing off their payout value. Although, the dismissal is largely being kept under wraps, it has been known that the Vice Presidents David Gurle, Christopher Dean, Russ Shaw and Don Albert, are among the ones to have been sent packing by Skype. Also, Chief Marketing Officer Doug Bewsher, Anne Gillespie (HR Head), Executives Ramu Sunkaras, Allyson Campa were fired.

According to those familiar to the whole deal, Skype’s total stock worth, which earlier stood at a massive $8.5 billion has now considerably come down, understandably so, due to the dismissals. Skype, however claims these dismissals were a part of their ‘recent internal shift owing to some management changes in the company’, as reported by the Skype Journal. Analysts believe that the entire episode was orchestrated out of the need of the investors to get their stocks back before the deal reaches closure.