Yahoo CEO Jerry Yang stepping down -TechChuck

Yahoo CEO Jerry Yang stepping down

November 17th, 2008

Speculation about this moment has been going for many months, but today it has finally come: Yahoo chief executive Jerry Yang is stepping down, according to Kara Swisher at AllThingsD. Yahoo also issued a press release confirming the news.

Yang will go back to being Chief Yahoo and a member of the company’s board of directors, while he helps the board find a new replacement. The move comes at a time when Yahoo’s share price has fallen to $10.63, less than a third of the share price that Microsoft had offered to pay for the company earlier this year. Yahoo’s ad revenues are declining, and the company announced last month that it’s laying off 10 percent of employees.

Swisher has also obtained Yang’s memo to the company. Here’s an excerpt, featuring Yang’s famous fear of capital letters: Read more...

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