Jerry Yang to step down as CEO of Yahoo

So it seems that the series of recent mishaps at Yahoo have finally come to a head and had a collective consequence – the departure (techblog) of Jerry Yang as CEO of Yahoo! The breakdown of a struck deal with Google and repeated failure to reach an agreement on the takeover of Yahoo! by Microsoft severely damaged Yang’s and Yahoo!’s reputation and attracted a great deal of criticism from both shareholders and the public. Recently, Yahoo was even seen actively trying to pursue the deal with Microsoft. Although Yang was CEO for only 18 months what makes this news surprising is that he was the cofounder of Yahoo!. The irony is that shares in Yahoo soared 10% upon this news surfacing in the hope that the deal with Microsoft may yet be struck after his departure.

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