Category: Technology Author : Duncan Riley Posted: November 17, 2008
Tags : yahoo
Yahoo CEO Jerry Yang will step down from his job as CEO as soon as the board finds a replacement for him, according to a media release from Yahoo late Monday.
Yang will return to his former role as Chief Yahoo! upon the appointment of his successor, and he will also continue to serve on the Board.
Yang’s time as CEO has been anything but stellar, with Yahoo twice rejecting takeover offers from Microsoft priced up to $33 a share, only to have the stock drop below $10 a share less than 6 months later. Perhaps as a sign of the markets lack of faith, YHOO shares traded up 4.5% in after hours trading once the news had broken.
Names being mentioned as possible replacements for Yang include former eBay CEO Meg Whitman and former AOL CEO Jon Miller.
Yahoo said that its search for a new CEO will “encompass both internal and external candidates,” and that it has retained the executive search firm Heidrick & Struggles to assist in finding a replacement.
Nov 17, 2008
Hey Duncan,
Shouldn't you be linking back to paidContent for the CEO speculation, or did you hear this rumour first hand? Sorry, just trying to put the ZDNet article in perspective..
Pete.
Nov 17, 2008
Peter
fail call, but the source is already linked in the post…I got it direct from a Yahoo Media release (I have a corporate file for media releases/ company blogs in Greader). It's also not speculation, it's actually confirmed from Yahoo itself.
Since writing it though it would appear that AllThingsD may have had it first, although I only read their stuff after I saw the media release (it broke while I was out buying lunch). I haven't seen it on PC yet, but the crediting on other sites from pre-media release seems to be towards AllThingsD on other sites. Congrats to them on having it, and I'd naturally link to them if they were my source (and we do link to them fairly regularly, not just because I think Kara is brilliant
)
Nov 17, 2008
Yahoo! needs a new leader that will Disrupt and use White Space to chart a new course. Someone who will compete with Google and improve the web for all of us. Certainly not Microsoft – a new leader wtih the moxie to compete. Read more at http://www.thephoenixprinciple.com
Nov 18, 2008
In a sign of how things are going at Yahoo, I'm betting his email to employees didn't make it past the Yahoo spam filter and now sits in everyone's junk mail folder along with ads for hair restoration creams.