Yahoo cofounder Jerry Yang resigns
Yahoo announced the resignation of its cofounder Jerry Yang today, stating that he is leaving to pursue other interests.
Yang started Yahoo in 1995 with David Filo, developing the site as an Internet guide based on work the two created as students at Stanford in 1994. Yang had served on Yahoo's board of directors since its founding, and acted as the company's chief executive from 2007 through 2009, when he was replaced by Carol Bartz.
In an official statement, Yang said his time at Yahoo "encompassed some of the most exciting and rewarding experiences of my life."
He added, "As I leave the company I co-founded nearly 17 years ago, I am enthusiastic about the appointment of Scott Thompson as Chief Executive Officer and his ability, along with the entire Yahoo! leadership team, to guide Yahoo! into an exciting and successful future.”
Thompson formerly helped PayPal to dramatically expand its operations; he was named Yahoo's chief executive earlier this month after the company dramatically fired Bartz as CEO over the phone last September.
Yahoo's Internet directory service rapidly lost ground to Google search, and the company has been unable to win back share even after buying Overture, which owned the business model Google used to achieve its success in selling paid search placement.
More recently, Yahoo has been beaten in advertising by Facebook. In 2008, Microsoft attempted to buy the company for $44.24 billion, an unsolicited bid the board rejected, claiming that it substantially undervalued the company and was not in the interest of its shareholders. Today, Yahoo's entire market capitalization is $19.14 billion.
Comments
Yahoo!? ?exciting? ?successful?
Okay.
I had hoped this wouldn't have happened, but it looks as if he's lived to regret the day he didn't sell to Microsoft.
Nah. I suspect he sees the options as having been this:
Option 1) Sell Yahoo to Microsoft and see Yahoo do badly.
Option 2) Don't sell, and see Yahoo do badly.
Personally, that's how I see it, and I suspect he had much more personal antipathy to the idea than me. So I think there's a very good chance the Microsoft thing isn't at the top of his list of regrets.
I remember when Yahoo replaced its search with that of this weird new company called Google. It took a long time for everyone to figure out the power position that Google made for itself. *THAT'S* what he regrets.
Nah. I suspect he sees the options as having been this:
Option 1) Sell Yahoo to Microsoft and see Yahoo do badly.
Option 2) Don't sell, and see Yahoo do badly.
Personally, that's how I see it, and I suspect he had much more personal antipathy to the idea than me. So I think there's a very good chance the Microsoft thing isn't at the top of his list of regrets.
I remember when Yahoo replaced its search with that of this weird new company called Google. It took a long time for everyone to figure out the power position that Google made for itself. *THAT'S* what he regrets.
The difference is in both scenarios Yahoo would do bad, but in only one of those two scenarios would Yang's 3.7 percent ownership interest in Yahoo be worth 3 billion dollars as opposed to the 1 billion it is worth today.
I'm sure he did well enough to either do something else or retire early and happy.
He will probably end up as a professional board sitter or a venture capitalist. Or maybe both.
Okay.
We would all be so lucky. Guess people settle being just a barrista.
Good move on his part, He was not bringing anything to the table, and yahoo was not benefiting.. Now to wait and watch as to who will take over Yahoo??
Scott Thompson
Yahoo! is still one of the most visited places on the web, so I wouldn't cry for them too soon. They are still a very valuable property, but they've been flopping around like a fish out of water for years. They need a good leader with direction... or at least listen to their customers / users.
A good leader - yes, very important. As for listening to customers and users, not sure how many (any?) tech companies become pioneers by doing that.
I've seen Jerry Yang speak a few times and all I can say is that he is a clueless idiot that got lucky. It is a good thing he made billions from Yahoo. I wouldn't hire him to work at my company for free.
You do realize how ignorant you sound on so many levels with this observation?
I've seen Jerry Yang speak a few times and all I can say is that he is a clueless idiot that got lucky. It is a good thing he made billions from Yahoo. I wouldn't hire him to work at my company for free.
Would bet more would hire him over you. Heck he doesnt even need to work
I smell jealousy...or ignorance, I am not sure which one is worst...
Would bet more would hire him over you. Heck he doesnt even need to work
I hope he starts another company. And he is certainly very capable of pioneering all over again. Carol Bartz, on the other hand, should retire from the tech industry. She was never qualified.