Katie Dean
"I can only think that the board concluded that based on his reputation and based on his knowledge, it's more valuable to keep him on the board in some capacity," Post says. "That makes sense to me, but it's also very clear that that board knows that they cannot maintain their credibility and have him in a position of leadership."
Indeed, a Wall Street analyst referenced Bonnie's operational chops in a note to clients Wednesday. Mark May, who follows the company for Needham, wrote that Bonnie "is rightly viewed as a digital media visionary." But May also wrote that Bonnie was "considered a spendthrift by some, and fresh leadership might be a net-net good for CNet." Needham makes a market in CNET. In some ways, Bonnie seems to hold a position of esteem not unlike Apple Computer(AAPL Quote - Cramer on AAPL - Stock Picks) CEO Steve Jobs. While there is no indication that the options fallout at Apple would ever cause Jobs to leave his post, it's difficult to imagine a scenario, short of a backdating "smoking gun," where investors would call for him to leave the board or cut all ties to the company. "I would imagine that, as the co-founder of the company, they would not want to lose his [Bonnie's] knowledge and experience at the drop of a hat," says Paul Hodgson, senior research associate at The Corporate Library.
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