Sunnyvale (CA) – Yahoo said that it has begun looking for a new chief executive officer as Jerry Yang decided “to return to his former role as Chief Yahoo.”

Surrendering the role as CEO of the company he co-founded concludes a rocky year for Jerry Yang – a year in which Yahoo received a $44.6 billion acquisition offer from Microsoft that eventually went up in flames as well as a deteriorating share price that currently lists Yahoo with a market capitalization of $14.7 billion.

Yang, 40, replaced Terry Semel in June of last year and transitioned the company to an open platform model and improved the alignment of costs and revenues.  "Jerry and the Board have had an ongoing dialogue 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,” Roy Bostock said.
 
Yahoo said that it is working with retained Heidrick & Struggles, an executive search firm, to find a replacement for Yang.

Yang said that he will focus on global strategy once a new CEO is appointed.

Yahoo! needs a new leader that will Disrupt and use...

Nov 18, 2008 01:06     

Yahoo! needs a new leader that will Disrupt and use White Space to chart a new course. Someone who will compete with Google and improve the web for all of us. Certainly not Microsoft - a new leader wtih the moxie to compete. Read more at http://www.thephoenixprinciple.com
adam hartung report abuse vote down vote up Votes: -1

Going back to chief Yahoo?

Nov 18, 2008 08:24     

I don't think he ever stopped being chief Yahoo.
W. report abuse vote down vote up Votes: +3

While it might be time for Jerry to step down, I am...

Nov 18, 2008 08:42     

While it might be time for Jerry to step down, I am happy that he had the ba??'s to keep M$ away.
Mike report abuse vote down vote up Votes: -3

good bye & good luck

Nov 18, 2008 08:51     

While it may be time for Jerry to step down, I give him credit for keeping M$ away from yahoo!
Mike report abuse vote down vote up Votes: -2

Good

Nov 18, 2008 08:53     

To bad it's too late for share holders. Get out of this thing if you haven't already.
Action Jackson report abuse vote down vote up Votes: +2

share holder

Nov 18, 2008 16:13     

currently at $11.55 share, and MS gave $33 a share and yahoo wanted $37, "Jerry's ba??" to reject Microsoft cause all investers $22 a share while now leave them with no google's hundreds of millions of empty promise (that never was possible anyway) and no billions of microsoft cash to help them either. It's a business, should run it for the best of the company interest...Not in the POV of a company founder and treat everying personal like someone is stealing your company. Jerry only owns a small part of the company.The rest of the public's 401K and big invester's interest are not being considered.

yo report abuse vote down vote up Votes: +2

LoL, Google's a monster.

Nov 18, 2008 17:34     

It's funny how everyone bashes at M$ and yet Google is becoming the same monster that M$ is. I will give Jerry credit for screwing over his shareholders just to protect his creation. A public companies's responsibility is their shareholder interest, otherwise don't dig your hands in their pockets.
bLu report abuse vote down vote up Votes: +3