Yahoo CEO Steps Down
After a turbulent year Yahoo’s CEO, Jerry Yang, has announced that he will be stepping down.
At the Web 2.0 Summit in San Francisco this month, Yang said he felt that Microsoft should still buy Yahoo. A surprise statement since Microsoft unsuccessfully attempted a hostile takeover of Yahoo earlier this year.
Yahoo’s year hasn’t improved since then either. Google withdrew from an advertising partnership with Yahoo. The reason? It seems Google isn’t willing to be under the eye of USA’s Department of Justice again. This could also be due to Microsoft’s antitrust lobbyists nipping at the heels of the advertising partnership deal.
Yang, do you still feel Microsoft should take over Yahoo after they were instrumental in your Google partnership going down? Well Yahoo may not have many other choices. Microsoft offered Yahoo $33 a share earlier this year. As of Monday, Yahoo’s share price stands at $10.63. Are we witnessing the fall of Yahoo? Or is this just a great time to snap up Yahoo shares at a great price?