Jerry Yang: Yahoo's $2 Billion Man
We believe Yang’s departure will be viewed positively by investors as there was lingering distrust following the aborted Microsoft takeover. Most importantly, we believe the CEO chosen to replace Yang will likely reveal whether the company intends to continue to try to compete on its own or look for an acquirer.”
– Piper Jaffray analyst Gene Munster
In the end, Jerry Yang’s decision to step down as Yahoo’s CEO was the best thing he’s ever done for the company. With Yang’s tenure at an end, Yahoo’s stock is finally beginning to recover from a nasty and overlong tailspin. Yahoo (YHOO) rose over 14 percent in early trading today.
So, after a troubled 17-month tenure marked by failed mergers, shareholder acrimony and investor outrage, Yang was finally able to do right by the company he helped found.
He added nearly $2 billion to its market cap by surrendering the CEO reins.