Jerry Yang Steps Down as Yahoo CEO

Yahoo is announcing that the co-founder and CEO, Jerry Yang, has stepped down as company CEO to his previous postion and a Chief Yahoo Board Member. Jerry has been heavily critisized for not accepting the Microsoft takeover offer of about $33 per share as the Yahoo stock is currently hovering at about $10 per share and its not expected that the stock will reach $30 again any time soon. Jerry said “from founding this company to guiding its growth into a trusted global brand that is indispensible to millions of people, I have always sought to do what is best for our franchise,” he went on to say “when the Board asked me to become CEO and lead the transformation of the Company, I did so because it was important to re-envision the business for a different era to drive more effective growth.” A replacement has yet to be announced.


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Hercules holds a B.Comm Finance from Ryerson University in Toronto, Canada. He is a Chartered Financial Analyst (CFA) level 3 candidate. He was previously a contributor at FiLife, a finance website owned by Dow Jones and IAC. Write to hercules@business2press.com
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