By Ron Coates, 1 February 2001 17:40
NEWS Internet legend Davis, founded Lycos in June 1995 but is reported to be on the verge of leaving the company following a conflict of personalities with bosses of Spanish firm Telefonica, whose Terra subsidiary took over Lycos in October 2000. At the time of the takeover, Juan Villalonga, the head of Telefonica, promised Davis a free hand as CEO. But, Villalonga proved too flamboyant for Spain's conservative financial class and was abruptly ejected shortly after the deal was completed. With Villalonga went Bob Davis' free hand. However, the company is now reported to be making a last ditch attempt to keep Davis on the board - albeit not in the capacity of CEO. Spokesmen for both sides of the company were unavailable for comment on the speculation which first appeared in the Wall Street Journal and the Financial Times. Terra Lycos results are due to be released after the Bolsa Madrid closes this afternoon but the waters will be muddied by conflict between Spanish and American accounting practices.
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