Yahoo's Yang wishes he had a do over

[mshatty Super Moderator Find all posts View Profile Close mshatty]

Yahoo to replace Yang as CEO, ending rocky reign

Yahoo to replace Yang as CEO, ending rocky reign marred by rejection of Microsoft bid

Monday November 17, 2008, 9:03 pm EST
Yahoo! Buzz Print
Related: Microsoft Corporation, Yahoo! Inc.
SAN FRANCISCO (AP) -- Yahoo Inc. co-founder Jerry Yang is stepping down as chief executive, ending a rocky reign marked by his refusal to sell the Internet company to Microsoft Corp. for $47.5 billion -- more than triple Yahoo's current market value.

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Symbol Price Change
MSFT 19.32 -0.74

YHOO 10.63 -0.19

The change in command announced Monday won't be completed until Yahoo finds his replacement. The Sunnyvale-based company said it is interviewing candidates inside and outside Yahoo in a search led by its chairman, Roy Bostock, and the executive recruitment firm Heidrick & Struggles.

"Jerry and the board have had an ongoing dialogue about succession timing, and we all agree that now is the right time to make the transition to a new CEO who can take the company to the next level," Bostock said.

Yang, who started Yahoo with Stanford University classmate David Filo in 1994, will revert to "Chief Yahoo," a titular role he filled before replacing former movie studio boss Terry Semel as CEO in June 2007. He will also remain on Yahoo's board of directors.

"I will continue to focus on global strategy and to do everything I can to help Yahoo realize its full potential and enhance its leading culture of technology and product excellence and innovation," Yang said in a statement.

Although Yang had publicly expressed his desire to remain at the helm, Yahoo's board faced intensifying pressure to cast him aside as the company's shares plunged to its lowest levels since early 2003. The stock fell 19 cents Monday to close at $10.63 -- a fraction of Microsoft's last bid of $33 per share in early May.

Microsoft CEO Steve Ballmer huffily withdrew the offer after Yang sought $37 per share. The negotiating breakdown triggered a shareholder revolt led by billionaire investor Carl Icahn, who called for Yang's ouster in July before reaching a truce that put him and two allies on Yahoo's 11-member board.

Yang, 40, had been pursuing a strategy that he thought would prove Yahoo was worth more than Microsoft was willing to pay, but the rapidly deteriorating economy made a comeback seem increasingly unlikely. As it is, Yahoo's earnings have been eroding for three years, disillusioning investors amid a management exodus that indicated even Yang's own troops were losing faith in him.

[falmouth3 Senior Member Find all posts View Profile Close falmouth3]

I wish we could have a do over too.

[Jya-Ning Silver Contributor Find all posts View Profile Close Jya-Ning]

Steve Job get out from Apple once. If he can continue show innovation, and ability to adapt, he may be back. If not there is not much to do except enjoy he has earned while it last.

Jya-Ning

[4ARedOctober Super Moderator Find all posts View Profile Close 4ARedOctober]

Sheesh I tell ya......Yang sure knows how to screw up that is for sure. I sold naked puts which expire in three days at $10 strike price. We are right there. I will know if I own Yahoo by the end of the week. It will probably go up now that Yang is 86ed.

[4ARedOctober Super Moderator Find all posts View Profile Close 4ARedOctober]

Yup...now up nice. I may not get those shares put to me. Anything can happen at this point with the recent market and expiration week. Oh well...the premium was nice. Thanks Jerry.

With the Yangtanic Sunk, What Is Microsoft Trolling For Now?
Posted at 12:01 PM PT on November 18, 2008
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Well, for sure, Microsoft execs were not doing high-fives after Yahoo CEO Jerry Yang said he was stepping down yesterday, as Yahoo searches for an new CEO to take over.

Well, maybe some small and discreet ones.

That hand-slapping, of course, was the delightful tidbit from the New York Times after Microsoft (MSFT) dropped its takeover bid for Yahoo (YHOO) earlier this year.

The story: Yahoo execs were reportedly high-fiving each other in celebration for not taking $31 a share from the software giant. Today, of course, Yahoo stock has been halved.

Which has long been begged the question why Microsoft CEO Steve Ballmer has persistently–almost obsessively, really–not gone back and made another bid for Yahoo at discount prices.


Well, simply put, he does not want Yahoo whole and still doesn’t want it, even with Yang’s departure.

While many like to gin up a “Dynasty”-style feud between Yang and Ballmer–as if they were Alexis and Krystle catfighting in a fountain–that was never true and Yang’s moving on will not change the equation that much.

Of course, Microsoft execs were burning up the phone wires down to Silicon Valley yesterday trying to make sure it is well positioned to make the deal it does want: A sweeping search and search advertising partnership with Yahoo, whose similar deal with Google (GOOG) recently collapsed.

“They are ready to move, as soon as it becomes clear who is in charge at Yahoo,” said one source close to the situation. “They don’t want to appear too eager, but also don’t want to lose this one.”

Indeed, Microsoft is now in a good position to wait and swoop, one of its more effective tactics. Not that its consumer-facing digital strategies have been very successful thus far and it definitely bollixed the Yahoo takeover attempt.

But the software giant has shown it can be more than willing to fork over way too much payola to try to catch up with its archrival Google in the search game at companies like Facebook and, more recently, Verizon (VZ).

While a deal with Yahoo will not bring Microsoft in even close range of Google, it is a deal that is most likely to be done, given the pressure on Yahoo now.

While a large group of execs at Yahoo still maintain that separating search and the company’s other businesses is dangerous to its future, it will hard to imagine its board will pick a new CEO who is not more than willing to travel to Microsoft’s Redmond, Wa. HQ and make peace pronto and do a deal.

High-fives, all around, everyone?

With the Yangtanic Sunk, What Is Microsoft Trolling For Now? | Kara Swisher | BoomTown | AllThingsD

[T. R. Oglodyte Moderator Find all posts View Profile Close T. R. Oglodyte]

Sometimes things go well, and sometimes they don't. It's just the yin and yang of life.

[4ARedOctober Super Moderator Find all posts View Profile Close 4ARedOctober]

ooops my mistake....my expiration is December....So I still have 30 days to go. So much for the yin with this stock since the yang got fired. It has gotten hammered.

now the analysts are calling it cheap under $10.....that usually means run for the hills.