Jerry Yang Is Out-Who Will Save Yahoo?
Yahoo has annouced that Jerry Yang is stepping down as CEO. This immediately on the heels of sub $10 per share stock prices. I don’t think the two are a coincidence. The search begins for his successor. Does anyone have the right stuff to propell Yahoo back to it’s glory days?
On one hand, it could be a great deal for anyone who gets it. If the stock tanks further, they can blame it on Yang’s failure to leave sooner etc etc. But if it rises (which many believe will happen immediately anyway) they can take at least some of the credit. But can Yahoo be saved?
First of all, Yahoo has a vast assortment of internet properties, so in theory it is well placed to weather the current economic storm. Microsoft could swoop in and pick up Yahoo at firesale prices. But who knows if they even want it anymore. Truth be told, who knows if they wanted it in the first place. They could have well known that Yang would not sell when they made the offer last February. It could have been their strategy all along; make an offer that Yahoo (or more precisely, Yang) would turn down and watch the shareholders go crazy and the stock price plummet.
Whatever happens, it might be a good idea to sell short tommorrow, the stock can only go up.
[...] was a lot of speculation that with Yang’s departure from Yahoo, we would see a stock price increase and the weather-beaten company could move on. And [...]