Nov

20

Jerry Yang to quit Yahoo

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Yahoo founder, Jerry Yang has decided to call it quits after anchoring it for 14 years. Although he still hopes to cling on, Yang felt the need for shifting base after his phobia of Microsoft. As the story unfolds, Yang had refused to sell Yahoo to Microsoft for $47.5 billion; an event that had taken place six months ago. He felt at the time that the company was being undervalued and instead took to striking up deals with arch rivals, Google.

With the company at an all time low, he had reason to worry as the company’s share prices had hit an all time low. According to latest update, Yahoo shareholders would expect the next chief executive to slice a beneficial deal with Microsoft in an urge to survive.

For the moment of course Yang will remain the titular head Yang, with the profile of “Chief Yahoo,” and will also remain on Yahoo’s board of directors.

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