Yahoo! CEO Jerry Yang Out
“Yahoo announced that Yang, 40, will step down as CEO and return to his former role as “Chief Yahoo.” The company’s board said it has hired headhunter Heidrick & Struggles to find a replacement. Yang has come under fire for his inability to turnaround the company in his past 17 months as CEO. During his short tenure, Yahoo has had two major rounds of layoffs and has seen its search market share shrink significantly while a series of reorganizations led to the departure of senior executives. Yang was heavily criticized by Wall Street and shareholders for failing to reach an agreement to sell the company to Microsoft.” [Link]
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