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Jerry Yang Steps Down – Yahoo Shares Go Up

Posted in Tech by Neil Koster on November 18, 2008

yangces533Yahoo has announced that Jerry Yang will step down as CEO as soon as they “find a replacement”. This has immediately sent Yahoo shares up 4%. Yang, primarily in charge of Technology and Strategy and also a founder of Yahoo, has been partly to blame for the failed merger with Microsoft who, earlier in the year wanted to buy Yahoo for around $33.00 a share. Yahoo  (or Yang) said no and have since seen it’s share price fall to $13 a share.

 

I think this will help Yahoo a bit as it will tell investors they are ready for a deal. Yang is yahoo through and through but he is clinging onto this idea they can survive in the current climate without a merger – Which as their shareprice dectates they can’t. The company is sound financially turning a huge profit – but the shares are low as the Market cannot see a future for Yahoo in the search business and this is basically upsetting those who own the stock.

It is unclear where Yang will go but the noise out of the Tech Gurus is that he will take up a lesser role in the company.

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