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Yahoo! CEO to step down

Yahoo! CEO to step down

Yahoo! co-founder and CEO Jerry Yang has decided to step down from his position as soon as the Internet giant finds a replacement.

Yahoo! co-founder and CEO Jerry Yang has decided to step down from his position as soon as the Internet giant finds a replacement.

Yang, however, will remain on the board and is leading the search for a replacement with Chairman Roy Bostock.

This comes as no surprise following two major setbacks for the company this year. First of all, merger negotiations with Microsoft fell apart and Google recently pulled out of a potentially lucrative advertising partnership.

Many of Yahoo!'s shareholders were a little aggrieved at the way Yang handled the talks with Microsoft and, as every day passes by, one can understand exactly why – Yahoo! stock is worth only a third of the $33 Microsoft offered to pay when it was pondering an acquisition of the company.

Yahoo! stock rose by four percent in after market trading following the announcement and some analysts believe that if Yang hadn't been a founder, his tenure as CEO would have ended much sooner. Another analyst from UBS, quoted by the Associated Press, still believes that Microsoft will eventually own Yahoo! – Yang stepping down from his role as CEO will apparently accelerate this process.

The question is though: has Yang's decision to outstay his welcome done far too much damage to a company that was last taken seriously many moons ago? Share your thoughts in the forums.

10 Comments

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Bauul 18th November 2008, 15:22 Quote
What does Yahoo even contribute to the Internet anymore?
chrisb2e9 18th November 2008, 15:49 Quote
I use only yahoo as a search engine. and I never have trouble finding what I want to find. the news that they put up also entertains me.
quack 18th November 2008, 16:06 Quote
About damn time. He's cost the company billions!
Tim S 18th November 2008, 16:46 Quote
$44.6 billion to be exact :p
Cadillac Ferd 18th November 2008, 17:07 Quote
Quote:
Originally Posted by Bauul
What does Yahoo even contribute to the Internet anymore?

They have a pretty good fantasy sports system... other than that? I have no idea. Honestly I didn't see what Microsoft wanted Yahoo for, Yahoo is waaaay past its prime.
DarkLord7854 18th November 2008, 21:32 Quote
Quote:
Originally Posted by Bauul
What does Yahoo even contribute to the Internet anymore?

Their dev section, YUI, is extremely useful
Anakha 18th November 2008, 22:32 Quote
Quote:
Originally Posted by Cadillac Ferd
Quote:
Originally Posted by Bauul
What does Yahoo even contribute to the Internet anymore?

They have a pretty good fantasy sports system... other than that? I have no idea. Honestly I didn't see what Microsoft wanted Yahoo for, Yahoo is waaaay past its prime.

And let's not forget Yahoo Groups and Yahoo Answers. Oh, and Flickr.
specofdust 18th November 2008, 22:42 Quote
Quote:
Originally Posted by Anakha
And let's not forget Yahoo Groups and Yahoo Answers. Oh, and Flickr.

So basically, the good stuff they do is something that another service already does better, or which they've bought out from another company?

Let's face it, Yahoo just need to die a death. They suck, they know they suck. When it gets to the stage where even the company itself doesn't want to exist anymore (they wanted to be absorbed into Microsoft), it's time for that company to auto-euthanise.
metarinka 19th November 2008, 03:16 Quote
I'm guessing in no small part, microsoft is trying to devaluate yahoo (or let it falter on its own) so as to get a better price. If they bought it today it would have been discounted 60% on what they were going to buy it at.

as in terms of what they do? I always thought internet companies had highly inflated values, compared to what they were actually worth. Youtube sold for billions but besides some banner ads does it really have any sort of profit stratedgy? Same goes for myspace or facebook, they both attract many pageviews but i'm not convinced they have any good stratedgy to turn a profit.
docodine 19th November 2008, 03:25 Quote
Who actually uses anything other than Google for search?

Yahoo email service is fairly popular, I guess.
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