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Yang Steps Down As Yahoo CEO…. Finally…


It’s about 11PM EST and the news that Jerry Yang is stepping down as Yahoo CEO has been on the wire for about three hours now. This leaked memo to Yahoo employees explains why:

“i wanted to address all of you on the news we’ve just announced. the board of directors and I have agreed to initiate a succession process for the ceo role of yahoo!. roy bostock, our chairman of the board, is leading the effort to identify and assess potential candidates for consideration by the full board. the board will be evaluating and considering both internal and external candidates and has retained heidrick and struggles to help in this effort.”

I’m guessing that means that the Yahoo board basically told him to get lost. After all, when you don’t get bought out by Microsoft, your stock value plummets, and your income nose dives, you are unlikely to impress the board of directors.

Yang will resume his position as chief Yahoo….. Whatever the hell that is….. The role he had before taking over in 2007 after former CEO Terry Semel departed.

Now, could this mean that Microsoft could be back in the picture? Time will tell, but don’t bet against it.

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