
November 19, 2008
On Monday, Jerry Yang resigned from his post as Yahoo's CEO. In late January, Yahoo rejected Microsoft's $31 a share offer, and the company has been in a slump ever since. Yahoo's stock is down 62% in the past six months.
Yang's departure has rekindled speculations that Microsoft will make a fresh bid for Yahoo.
"Jerry's resignation as CEO reflects failed promises he made while fighting off Microsoft's offers, and the board's displeasure with his go-it-alone strategy, in our view. This vacuum creates an opportunity to bring in a new chief who will make bold strategic moves or more likely, open the door to Microsoft," stated Youssef Squali, who follows Yahoo for Jefferies & Co.