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Yahoo founder Yang out as CEO
From the As-the-Yahoo-turns department, the Internet giant just announced that it has begun searching for a CEO to replace founder Jerry Yang.
Yahoo, of course, has been fraught with troubles and suffering from shareholder angst since its on-again, off-again, gone-for-good merger talks by Microsoft Corp. earlier this year.
It’s tried all sorts of steps to regain footing, from putting angry investor Carl Icahn on its board to thwart an ugly proxy fight to striking deals with arch-rival Google Inc. to boost its advertising business.
Yang took over again in June 2007 to try and right the ship he helped build. But his day-to-day control of the company has done little: Yahoo’s stock price is about a third what it was back when it was being courted by Microsoft, and it is still far behind Google and other online competitors when it comes to generating advertising and other revenues.
Yang has tried several programs to re-energize his company and increase its innovation, but obviously Yahoo’s board thinks maybe somebody else can do the job a little better.
Click here for the announcement from Yahoo.
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Comments
By Yin
November 18, 2008 1:08 PM | Link to this
Ha! I am in charge now.
By Buddah
November 18, 2008 3:28 PM | Link to this
Good one Yin! lol
By dennisl59
December 6, 2008 2:59 PM | Link to this
I hear that Bob Nardelli(Chrysler and Home Depot) has sent his resume’ to Yahoo.
By FinancialServicesRenoNV
March 28, 2009 7:32 PM | Link to this
Greetings all members,
I would just like to say hello and let you know that I’m happy to be a member - been a lurker long enough :)
Hope to contribute some and gain some knowledge along the way….