Loads of news today about the Founder/CEO of Yahoo, Jerry Yang stepping down as CEO (more like the dude got fired).
Here’s a quick recap from around the web…
Yang Steps Down As Yahoo CEO, Search For Successor Begins - TechCrunch (here)
Yang will return to his former role as Chief Yahoo, and will remain on the board of directors. The company has hired executive search firm Heidrick & Struggles to find the new CEO
Jerry Yang To Step Down As Soon As Yahoo Board Finds Replacement - PaidContent.org (here)
It has been a rough 18 months for Yang, who took the post in the interim after former CEO Terry Semel stepped down. Yahoo was struggling back then too, but its share price was at a relatively healthy—compared to the $10 it’s hovering at now.
Yahoo’s Jerry Yang to Step Down, As a Search for New CEO Commences - AllThingsDigital (here)
According to sources, both Yang and the board have been discussing the move for months, although Yang has been saying quite explicitly in public that he was going to stay in place to see through the many changes he has made in his 16-month tenure.
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I can’t wait to hear CNBC’s take on this tomorrow morning. The excitement should be palpable! Everyone’s been begging for this for months.