Since refusing the $44.5 billion takeover bid there was a 60 percent fall in the shares of Yahoo. Even as Jerry yang, the Chief Yahoo is working down the hall, Yahoo may not find it very easy to find a chief executive officer.
After Yahoo refused the bid from Microsoft on Nov.17th, Yang aged 40 went back to resume his former advisory role by resigning from his CEO post. Candidates may not be too eager to fill in the CEO post due to fear of second guessing according to a Chicago based executive placement firm Challenger, Gray & Christmas Inc’s CEO John A. Challenger.
According to an analyst Heath Terry from FBR Capital Markets Corp, Arlington, Virginia, this is a potentially trouble filled situation. Rating on the company is “underperform” and this is for all practical reasons still the company of Jerry at least as far as Jerry, employees and the board are concerned.
Jerry who is a Taiwan born, is not available for comment according to a spokeswoman of the company who also said he will be serving as the CEO until they find a replacement. As the Chief Yahoo, Yang will be the member of the board and will focus on technology, products and global strategy says a company blog.
Jerry is one among the 216 CEO’s stepping down from their posts to serve their companies in another capacity. This list includes the Hasbro Inc’s Alfred Verrecchia, Quinos Corp’s Gregory Brenneman and Mozilla Corp’s Mitchell Baker. This figure is about 22 percent lower than last year’s.