Jerry! Yang! To! Step! Down! From! Yahoo!

Robert Hallock (Thrax)

November 18, 2008 10:53 AM ET in News, ,

It has been revealed that Yahoo! founder and CEO Jerry Yang will step down after a successor is found.

In a prepared statement, Yahoo! chairman Roy Bostock expressed that the decision had been jointly arrived upon. “Jerry and the board have had an ongoing dialog about succession timing, and we all agree that now is the right time to make the transition to a new CEO who can take the company to the next level,” he said.

Following the announcement, Yahoo! stock (NASDAQGS: YHOO) is up 15% and climbing with a $1.33 boost. This should start to relieve Yahoo! shareholders who have suffered crushing cuts in stock value throughout the course of 2008.

Yang is expected remain within Yahoo!’s ranks as the nebulously-titled “Chief Yahoo.”

7 Comments:

  1. Lincoln
    18 Nov '08, 4:52 pm

    If you were the new CEO, how would you fix Yahoo?

  2. MiracleManS
    18 Nov '08, 5:00 pm

    I think Yahoo!'s primary problem is their moving away from what they did best originally: Search, email, and messenger functionality. They're trying really, really hard to be like Google, but have lost the name recognition that is now associated with Google.

    All in all, they have their work cut out for them, but its possible that they can return to the forefront if they return to what they did originally.

  3. Thrax
    18 Nov '08, 5:02 pm

    They need to drop all their subdomain.yahoo.com properties, axe more staff, refocus on search, push BOSS like it's going out of style, and generally revitalize their core expertise.

  4. Your Friendly Neighborhood Computer Guy
    18 Nov '08, 5:19 pm

    Haha, love the title!

    This is a good move. Yahoo has been looking weak by refusing Microsoft and failing to get in bed with Google advertising. Yahoo was google before google was google, but unfortunately they, like AOL, lost direction and focus (which google seems to be getting ready to do soon). We'll see how this shake-up pans out, but Yahoo has a lot of work to do to be relevant enough to stay it's own company.

  5. jared
    18 Nov '08, 5:50 pm

    First they need to rehire half of the people that quit. All their entrepreneurs bailed - which they need. Or find new ones.

  6. Lincoln
    18 Nov '08, 5:56 pm

    Your Friendly Neighborhood Computer Guy, want to register for the forum? Cheers!

  7. Leonardo
    18 Nov '08, 6:36 pm
    Jerry and the board have had an ongoing dialog about succession timing...

    Let me reveal what was probably really said:

    Jerry - You want me to quit now!??
    Board - Damned straight, we do!
    Jerry - Oh, come on guys, I sense a turnaround. I really do!
    Board - So do we! Resign, turn around, and walk out!
    Jerry - But, but, Microsoft didn't offer enough. Yahoo will return to its previous glory! We will prevail. We will...
    Board - We will be lynched by our stockholders who have watched their share values plummet, with no end in sight.
    Jerry - It's, uh, it's Microsoft's fault! They didn't offer enough.
    Board - Microsoft gave you a chance to make the shareholders a very dandy profit. Your ego was more important to you. The shareholders have thoughts about your ego as well! Jerry, when you think of Yahoo, you see it spelled "J E R R Y Y A N G." The shareholders spell it "H E L P."
    Jerry - I have a plan. We innovate again, just like before. Guys, come on now, we can innovate!
    Board - Good bye, Jerry. You were great in 'your day,' but that day was a long time ago. You've got five minutes to resign, if not, we fire you.

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