In today’s Bulldog wrapup of technology and life science news:
- INC Research promotes two executives
- Yahoo mulls what to do with its valuable Alibaba stake
- Amazon is going Hollywood
- Nintendo drops its Club Nintendo program.
The details:
- INC promotes two executives
Contract research organization firm INC Research (Nasdaq: INCR) has promoted two executives to roles as presidents.
Alistair Macdonald is now president as well as chief operating officer.
And Michael Gilbertini is president of therapeutic offerings for the entire company. He had been president and general manager of Central Nervous System Clinical Development.
“Alistair Macdonald and Michael Gibertini both bring strong leadership, proven track records of success and strategic vision that should help guide the future growth and success of INC Research,” said Jamie Macdonald, INC’s CEO.
“As COO, Alistair has demonstrated outstanding leadership in strengthening INC’s operations globally and deepening alliance-level partnerships to drive increased opportunities for the company.
“Michael is a proven leader who has delivered exceptional results during his tenure with INC, guiding our CNS business to record results.We look forward to his continued leadership in this important new role focused on the growth of our therapeutic offerings globally.”
- Yahoo’s Alibaba decision
Yahoo CEO Marissa Mayer is facing her biggest business decision since she left Google two-and-a-half years ago to lead its struggling rival: how to manage Yahoo’s most valuable asset, a 15 percent stake in Chinese Internet star Alibaba Group worth nearly $37 billion.
“This is a defining moment for her,” says Eric Jackson, managing partner of hedge fund Ironfire Capital, a long-time Yahoo shareholder. “Marissa has a chance to really boost the stock if she plays her cards right.”
Mayer has promised to outline her Alibaba plans on or before Jan. 27, when the company will release its fourth-quarter earnings. Most investors are hoping Mayer will spin off the Alibaba stake to ease Yahoo’s tax bill after the company sells those holdings. Mayer also is under pressure to return windfalls from Yahoo’s Asian investments to shareholders instead of plowing more money into an acquisition strategy that some think hasn’t paid off.
Activist investor Jeffrey Smith has threatened to lead a shareholder rebellion aimed at ousting Mayer if she proposes a plan that doesn’t maximize Yahoo’s tax savings or risks squandering money on far-flung acquisitions.
- Amazon goes feature film route
Amazon Studios is branching out from television series to movies, announcing plans to begin producing and acquiring original movies for theatrical release and, within weeks, video streaming.
Just five years after its launch, Amazon Studios says it will begin producing motion pictures this year and aims to release a dozen original “prestige movies” annually.
Independent filmmaker Ted Hope will oversee creative development for the new unit, Amazon Original Movies. Hope co-founded and ran Good Machine, a production company behind some Academy Award-nominated films, including “Crouching Tiger, Hidden Dragon,” and “Eat Drink Man Woman.”
Amazon Original Movies will focus on unique stories, characters and voices from “top and up-and-coming creators,” according to the company. Once movies have hit theaters, they’ll debut on Amazon Prime Instant Video within 4 to 8 weeks.
- Nintendo drops rewards program
Nintendo is discontinuing its Club Nintendo rewards program and will replace it in the U.S. with a new customer loyalty program at a later date.
Members of Club Nintendo earned “coins” by registering products or completing surveys. They could exchange those coins for downloadable games, posters or character figures.
Japan’s Nintendo Co. said Tuesday that Club Nintendo members in the U.S. and Canada can earn additional coins through March’s end and redeem them through June’s end. New rewards and downloadable games are being added to the program to help members use up their balances.
The ability to make a new Club Nintendo account will end on March 31.
Nintendo’s video gaming products include Wii U, Wii, Nintendo 3DS and Nintendo DS.
