Yahoo's Jerry Yang Steps Down as CEO
Looks like at least one chapter of the long Yahoo soap opera has drawn to a close. Jerry Yang, who co-founded Yahoo back in 1995 announced yesterday that he was stepping down from his position as CEO. The move comes after many, many months of wrangling, proxy battling, and failed takeover and merger attempts — most notably Yang turned down a unsolicited offer of $31 a share in cash and stock from Microsoft — and more recently a failed move to strike a search-advertising partnership with Google.
Yang took over as CEO in June of 2007 amidst “high hopes” but quickly became the object of shareholder frustration and criticism after turning down the Microsoft offer amidst plummeting stock shares.
WORK SMARTER - LEARN, GROW AND BE INSPIRED.
Subscribe today!
To Read the Full Story Become an Adweek+ Subscriber
Already a member? Sign in