Nov 18 2008
Techiez Newz 18.11.8
Yahoo is now looking for a new CEO and Yang is to resign once new CEO is assigned.
The current CEO, Jerry Yang will be stepping down as Chief Executive Officer of Yahoo, once a new replacement has been found. This has come after the poor performance of Yahoo’s shares and the breakdown in collaboration and takeover deals. Microsoft, Google, and Time Warner’s AOL Unit had originally had talks with Yahoo for a collaboration or takeover bid, which would have profited Yahoo greatly. These deals fell through possibly due to Jerry Yang’s independent strategy for the organisation, Yahoo, where he wanted Yahoo to strive for success and survive as an independent firm. Several executives from News Corporation, eBay, AOL, and Yahoo are being considered for the new role. Yahoo has even hired a search consultancy to find the right candidate for the job.
Source: Reuters Internet News November 2008-11-18
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