Jerry Yang, Yahoo Inc co-founder, is resigning as the chief executive. Yahoo has to find a replacement. The chairman, Roy Bostock, and the executive recruitment company Heidrick & Struggles are in charge of the headhunting.

Jerry Yang will stay with Yahoo as the “Chief Yahoo.” Yang will be remaining on Yahoo’s board of directors. Yahoo’s shares have dropped in price. Many of Yahoo’s investors were aore with Jerry Yang for refusing to sell to Microsoft Corp for $47.5 billion. The figure was more than 3 times the market value of yahoo.

Jerry Yang asked Microsoft’s CEO Steve Ballmer for $37 per share. Ballmer refused and withdrew his offer. The economy’s downturn did not make Jerry Yang’s business proposals attractive. There are details at the writeup on Jerry Yang’s unattarctive business proposals for Yahoo.

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This entry was posted on Monday, November 17th, 2008 at 10:06 pm and is filed under News.