Jerry Yang to step down as Yahoo CEO
What a long strange trip it’s been. Mark this one as done folks – Yahoo has officially announced that Jerry Yang will step down as CEO of Yahoo. Yang has been at the helm of what can only be described as a sinking ship since June of 2007. His moves have been made under a microscope, his decisions have been questioned by just about everyone with a keyboard and he has been the subject of much criticism, to say the least. What’s done is done though and suffice it to say we definitely do not envy whoever the appropriately-named executive head hunting firm Heidrick & Struggles finds as Yang’s replacement. He or she will inherit a mess of epic proportions as Yahoo struggles to stay afloat and no doubt begins begging Microsoft, even more than Yang did, to come back to the bargaining table. As for Yang, he will return to his prior role as Chief Yahoo and will still sit on the board of directors. If Yang is still with the company in six months we’ll be truly amazed. Hit the jump for Yang’s full memo sent today to all Yahoo employees.
To: all yahoos
Fr: Jerry
Subject: update
yahoos -
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 will be participating in the search for my successor, and i will continue as ceo until the board selects a new ceo. once a successor is named, i will return to my previous role as chief yahoo and continue to serve as a director on the board.
last june, i accepted the board’s request that i assume the ceo role to restructure and reposition the company as a whole in order to more effectively meet the fast-changing needs of both users and partners. since taking on the ceo role, i have had an ongoing dialogue with the board about succession timing. thanks in large measure to your tireless efforts, we have created a more open, competitive yahoo! and we believe the time is now right to transition to a new ceo who can take the company to the next level.
despite the external environment we face, the fact remains that yahoo! is now a significantly different company that is stronger in many ways than it was just 18 months ago. this only makes it all the more essential that we manage this opportunity to leverage the progress up to this point as effectively as possible. i strongly believe that having transformed our platform and better aligned costs and revenues, we have a unique window for the right ceo to take ownership over the next wave of mission-critical decisions facing the company.
all of you know that I have always, and will always bleed purple. i will always do what I think is right for this great company. while this step will be an adjustment for all of us, i know it’s the right one. i look forward to updating you on this process as soon as the board has developments to share, and will continue to do everything i can to make yahoo! fulfill its full potential.
thank you,
jerry
BEST. YAHOO NEWS. EVER
That 47 Billion dollar Microsoft offer is looking MIGHTY good right now, wouldn’t you say Jerry?
I think Yahoo should have just let Microsoft buy them when they still had a chance. Cause they can’t hold a candle to Google.
Bout time someone got rid of that…….
YAHOO!
So they paid him $1 million to do what?
Why dont companies pay their execs like the military. If he fucks up, he loses his pay check and will be working overtime for free.
He made a monumental mistake when he played hardball with Microsoft. Now the stockholders are paying for it. Good riddence!
Jerry is a bad used car salesman trying to sell his used .com biz that failed miserably for 3x more then its worth… HAHAHA!! Should have sold it when you had the chance..ASS!!
Oh well, looks like he will be going back to American Idol to sing “She bangs” William Hung style… dont they look related?
“Close friends say he has watched Kung Fu Panda over 1000 times and knows Po’s lines by heart.”
You guys are mean! I did great things for my company. I rearry loved that company.
Leave Jerry alone, he’s a good guy and happens to be a close friend of mine.
Here’s the problem, Jerry is just to nice, yahoo was never going to get anywhere that way, want a good example, look at microsoft, Bill had the brains to build the company but do you think he had the attitude to run it? hell no, that’s where ballmer came in and both took it to the top. Employee’s have a habit a confusing kindness with weakness and that’s how companies go bankrupt everyday, want another example, look at Apple, employees where left to do as they wish and almost killed the company, when steve jobs came back as CEO people where terrified of even getting on the elevator with him cause when elevator stop they might not even had a job anymore and look at Apple today.
Sincere congratulations, Yahoo! This is definitely a step in the right direction; however, it will be too little, too late in the (very) long (uphill) run against Google. I do hope that Yahoo will still be around in a year or two. Any one have a crystal ball?
Whoever posted as “Jerry Yang” needs to be banned from this site. Jerry Yang might have F*cked up as CEO, but there is no need to mock asians by saying “rearry loved…”. Thats just straight up racist.
And to Roger A…..Im sure all Asians look alike to you because you are ignorant.
God….I thought there would be alot more educated and tolerant people on a site like this.
About 2 years too late.
I see we’ve got some moral police here (ThisGuy). Beware of being stoned to death in a name of “doing the right” thing.
The capitain is leaving the sinking ship.
Is Carl going to fix it?
I guess with the Share he still owns he could have amde a big pile of Dough at 33$/ Share to retire ver compfortable
Too little, too late.
Doesn’t his spell checker capitalize?
@Yahoosoft
I was wondering the same thing.. lol
without taking sides, IF all of us were in Jerry’s position of starting the company and growing it to what it is today, it would not be an easy to let go. Just like a parent to their children.
While some may be happy to take the $ and walk off, others are not. Steve Jobs wouldn’t have left apple if he had a choice. perhaps leaving for the wilderness (a few years) did Steve some good and came back to Apple with vengance.
$ is the root problem to this issue. Spirit of entrepreneur is the victim here. how many of us here can claim we did/can do what Jerry did?
No, thank you, Jerry!