Posted by flung in Yahoo!17 Nov 2008 08:57 pm
Jerry Yang to step down as Yahoo! CEO
After months of speculation, the inevitable has finally occurred. Yahoo announced that Jerry Yang will be stepping down as CEO and assuming his former role as “Chief Yahoo”. The company has hired firm “Heidrick & Struggles” to find a replacement for the CEO position.
During Yang’s 17 month tenure as CEO, the company suffered setback after setback including:
- A couple of rounds of layoffs
- A shrinking search market share
- Failed merger talks with Microsoft
- and of course, the failed advertising deal with Google
The question now is – can Yahoo be saved?
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