Yahoo: Jerry Yang Steps Down
Yahoo‘s Board of Directors has initiated a search for a new Chief Executive Officer; http://is.gd/7WWi
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Gerrit Eicker
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Gerrit Eicker 10:56 on 18. November 2008 Permalink |
NYT: “‘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 C.E.O. who can take the company to the next level,’ Roy J. Bostock, Yahoo’s chairman, wrote in a statement. ‘We are deeply grateful to Jerry for his many contributions as C.E.O. over the past 18 months, and we are pleased that he plans to stay actively involved at Yahoo as a key executive and member of the board.’”
AdAge: “The decision does open the door to new leadership at the company, which is poorly managed in the eyes of Wall Street. Executive search firm Heidrick & Struggles has been retained to lead the search. Among possible outside candidates are former AOL Chairman-CEO Jonathan Miller, now partner at investment firm Velocity Interactive Group, and former Yahoo Chief Operating Officer Dan Rosenweig, a partner at media hedge fund Quadrangle Group, which is shutting down operations.”
TC: “How much of the downfall was his fault? It’s impossible to say, except that he takes full responsibility for mishandling the Microsoft acquisition offer last February. One thing you have to love is Yang’s tenacity in keeping Yahoo an independent company at any cost. But what shareholders and employees need is a leader with an actual plan. … Whoever ends up with the job, let’s just hope it’s an outsider. Yahoo is being clear that they are considering internal candidates. President Sue Decker is likely being considered. But ex-execs we’ve spoken with say she was a big part of the problem at Yahoo, and if she takes over as CEO it will likely be more of the same.”