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Napster Execs Resign, Company Appears to Teeter

Posted by timothy on from the no-income-will-do-that dept.

renard writes: "The NYT is reporting that five top executives at Napster, including founder Shawn Fanning and CEO Konrad Hilbers, resigned yesterday. This occurs in the wake of their Board's rejection of the latest buyout offer from Bertelsmann AG - as Hilbers says, `I am convinced that not pursuing the offer is a mistake.' Could this be the end for the upstart MP3 indexing service that changed everything?"

1 of 229 comments (clear)

  1. Good for Them by kawlyn · · Score: 5, Interesting
    The NYT mentioned that one of the reasons the executives were stepping down is that they wanted to make sure that there was enough money in the pot so that the employees could get paid. If this is for real that's great. It's nice to see the executive of a company acting in a responsible fashion.

    Having said that, this also makes me kinda optomistic for the future. The future where all the old dinosaurs that are running the world now finally retire, and get replaced with people that have a clue.

    --

    When someone yells "Stop" or goes limp, or taps out, the fight is over.