Jerry Yang, CEO Yahoo has stepped down due to the fierce financial pressure from within the company. Search have been going on to replace him to turn around table for Yahoo which is right now going through many ups and down.
Mr.Yang, a co-founder of Yahoo took charge of the company aroung one and a half years back replacing Mr. Terry Semel and turning the comapny from being a services directory into an internet giant. But in recent times there have been rumours and doudt from within the company staff over staff cuts and low sales forecast.
This year 2008 has been the most horrendous for Yahoo as Mr. Yang rejected the offer from Microsoft to take over the comapny so that it gain an upper hand in the search industry. Even after Microsoft valuing the company shares at 33%, three times more than the actual closing price of 10.63% Yahoo rejected the offer by responding that the company has been undervalued. There was another incident or say a golden oppurtunity missed by the company about a partnership with search giant Google to show Google ads on Yahoo site which started but was not cemented. This lead to the staff of the company raising eyebrow on him and deciding to look out for another suitable person for the post.
So as of now they are still in search of a CEO for the company to turn aroung heads.Lets see who gets onto the hot seat!!