Yahoo Founder Jerry Yang To Step Down As CEO

[Robbien]

Source: CBS

SUNNYVALE, Calif. (CBS) ― Yahoo will replace founder Jerry Yang as CEO as soon as a replacement is found. The move announced Monday will end Yang's rocky 17-month reign running the Internet company that he started 14 years ago.

Many Yahoo shareholders have been upset with Yang, 40, since he refused to sell the Sunnyvale-based company to Microsoft Corp. for $47.5 billion six months ago.

Although Yang had publicly expressed his desire to remain at the helm, Yahoo's board faced intensifying pressure to cast him aside as the company's shares plunged to their lowest levels since early 2003.

Once his replacement is hired, Yang will revert to his former role of "Chief Yahoo."


Read more: http://cbs4.com/national/jerry.yang.yahoo.2.867134.html

---

If one gets between Wall Street and their profiteering game, one gets tossed out. Doesn't matter if it is your company or not. Greed rules.

[originalpckelly]

1. Yahoo sucks ass.

Most disorganized mess of internet anywhere. It's called picking a product. They buy shit like Michael Jackson after he's diddled a child.

[Amerigo Vespucci]

2. Some cherry-picked reader responses on Huffington Post:

My reaction? Screw Yang, Screw Yahoo. Both. Screw 'em.

http://www.huffingtonpost.com/2008/11/17/yahoo-to-repla...

"Yahoo's falling apart. Their crawlers are totally out of control and yet they don't use the results from the websites they crawl. They really don't matter anymore. He should have sold while he had the chance."

***

"Yang made the classic mistake in business. He fell in love with his company, and with himself, and refused to look at the situation with a clear head. But, I don't think we should feel sorry for the guy, he's wealthy enough for five lifetimes."

***

"Send him back to the computer ranks, he can't cut it in business"

***

"People actually still use Yahoo and their services?"

***

"What took them so long? Yang isn't CEO material."

[investintrains]

3. no to further gobbling by greedy Microsoft

no to further gobbling by greedy Microsoft

the 'vaccine' programs of Gates in Africa are linked to
multinational pharma cos. and their toxic products

[WriteDown]

4. Huh? nt

[Godhumor]

6. investintrains dislikes anyone linked to animal testing

Sounds like he or she is making the case Yang did the right thing due to Gates' monetary ties to the pharmacy industry.

[AllHereTruth]

8. wah?

rambling mess takes me a long while to understand.

[4lbs]

5. Microsoft thanks him for holding out. Now M$ can simply buy the company for 1/3 the

share price they originally offered.

Good going Yang!

[Godhumor]

7. One of the very first rules taught in any MBA program in the US (really)

"Shareholders come first."

Corporate governance is set-up to make sure shareholders and managers agree on the best course of action.

Agent-principal problem is when the shareholders' rights are not the first thing on managers' minds (i.e. they're looking out for themselves instead of the shareholders.).

I am not surprised Yang is being forced out.