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Yahoo! Inc., whose shares fell 60 percent since Microsoft Corp.’s $44.5 billion takeover offer, may find the next CEO, but definitely the new boss will have troublesome times with Yang aboard.
Yang stepped down as CEO on Nov. 17 after a troublesome regime at Yahoo!, especially after February he rejected Microsoft’s $31-a-share offer; a 62 percent premium to Yahoo’s price at the time.
There’s certainly the potential for trouble, said Heath Terry, an analyst at Arlington, Virginia-based FBR Capital Markets Corp. who has an “underperform” rating on the shares. In the minds of Jerry, most of the board and employees, this is still Jerry’s company.
Yang a board member, will now be the Chief Yahoo focusing on global strategy, products and technology. In this financial crunch time the new CEO must restructure the company for sale and hence to do that Yahoo board must give authoritative powers to the CEO, unless that is done bright candidates might not show up.
I think Yahoo would be hurt by Jerry departing entirely, Jerry is the touchstone. Yahoo needs to remember its origins, and it needs to remember its mythology, said an analyst.
But what do you think, should Jerry say goodbye all together? Or will his presence have an effect on Yahoo’s future?
