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Yang Era Ends: Who's Next to Lead Yahoo?
Posted Nov 18, 2008 01:18pm EST by Aaron Task in Internet, Media, NewsmakersYahoo's announcement late Monday that Jerry Yang is stepping down as CEO marks the end of his tumultuous 18-month reign, and sets the stage for a new era at Tech Ticker's parent.
Yang, Yahoo's co-founder, will remain CEO until his successor is chosen and will return to the role of Chief Yahoo! once a new CEO is named. As to whom that person will be, the most likely candidates include:
- Sue Decker: Yahoo's President obviously knows the company inside and out, and is well respected on Wall Street. But she may be too closely associated with Yang and his decision-making to gain support of key institutional shareholders.
- Peter Chernin: News Corp.'s COO and online chief is a traditional media exec who "gets" the Internet. Kara Swisher called him the dream choice for Yahoo and he's currently negotiating a new contract, so theoretically available.
- Jon Miller: The former AOL chief certainly understands the Internet and also has experience dealing with a turnaround effort. But he's got a non-compete through March that Time Warner used to keep him off Yahoo's board this summer, so may not be available in timely manner.
- Dan Rosensweig: The Operating Principal of Quadrangle and former Yahoo COO is certainly well known in house and "bleeds purple," as the saying goes. Returning as the (potential) conquering hero might be more attractive now vs. sticking with the private equity business.
- Tim Armstrong: Google's top ad exec might relish the challenge of turning around Yahoo and probably doesn't see a clear path to the top of his current employer anytime soon.
- John Chapple: The former Nextel CEO is one of Carl Icahn's two hand-picked members of Yahoo's board. If Chapple gets the CEO job, that would likely mean he's a placeholder for the sale of Yahoo, which brings us to...
- Steve Ballmer: Does Jerry stepping down make Microsoft more likely to take another shot at an acquisition of Yahoo? Traders are apparently betting that way Tuesday, but Henry doesn't think Microsoft walked away only because of the Jerry-Steve dynamic.
Whether it's one of the above or some other candidate, whoever takes over for Yang will inherit a company with a lot of problems, but also a lot of assets that are incredibly difficult, if not impossible, to replicate. Stay tuned for part 2, where Henry and I discuss some steps the next Yahoo CEO can take to right the ship and take advantage of those opportunities.
14 Comments
John O - Tuesday November 18, 2008 01:32PM EST
Always an indictment of the outgoing CEO when the stock jumps upon his departure. Good job Yang!
Defending Champ - Tuesday November 18, 2008 01:59PM EST
Hey Guys/Gals... don't be fooled here the real CROOK is Henry Blodget who swindled investors out of millions of dallars in the late 1990's while making bogus tech stock recommendations. Check him out, he should be in prison. In 2002, then New York State Attorney General Eliot Spitzer, published Merrill Lynch e-mails in which Blodget allegedly gave assessments about stocks, which conflicted with what was publicly published. In 2003, he was charged with civil securities fraud by the U.S. Securities and Exchange Commission. He settled without admitting or denying the allegations and was subsequently banned from the securities industry for life. He paid a $2 million fine and $2 million disgorgement but kept millions more he earned in fees while promoting investments in stocks which failed.
Anger Management - Tuesday November 18, 2008 01:59PM EST
A monkey could do a better job. Yang was an egotistical moron.
Yahoo! Finance User - Tuesday November 18, 2008 02:00PM EST
Why is Yahoo allowed to comment on Yahoo stock?
- Tuesday November 18, 2008 02:15PM EST
merkcfp, In case you haven't noticed, Henry offers his opinions, and his perspective on the news here. Last I checked, his opinions are every bit as valid as yours. So give the public-service attitude a rest, and comment on the actual content of the piece. Or go stick your finger in an electrical outlet.
laura - Tuesday November 18, 2008 02:24PM EST
I hope they choose a female candidate to be CEO. The lack of women leaders at the top of companies is upsetting.
Keith - Tuesday November 18, 2008 02:30PM EST
I got a name for you, David Peterschmidt, former CEO of Inktomi (sold to Yahoo). This guy knows search engine business and Yahoo already. He should be on the short list.
Sacha - Wednesday November 19, 2008 12:18PM EST
Might it make sense to merge Yahoo & Ebay? Couldn't Yahoo's huge audience be nicely monetized with Ebay's commerce know-how? They are already working together on various fronts which would make sense to push further and the fact that their market caps are essentially identical right now is numero-aesthetically pleasing. The company cultures must be closer than in a Yahoo-Microsoft deal.
Eddddd - Tuesday November 18, 2008 02:38PM EST
It was greed that prevented Jerry Yang from selling Yahoo months ago to Microsoft. He should have sold it to Microsoft and move on. He wanted to be a hero and look great before investors and now he looks like a fool . He will depart with his tail between his legs. Yang did one good thing for yahoo: Found it. Besides that, his career has been a disaster.
Sacha - Wednesday November 19, 2008 12:22PM EST
Might it make sense to merge Yahoo & Ebay? Couldn't Yahoo's huge audience be nicely monetized with Ebay's commerce know-how? They are already working together on various fronts which would make sense to push further and the fact that their market caps are essentially identical right now is numero-aesthetically pleasing. The company cultures must be closer than in a Yahoo-Microsoft deal.
Eddddd - Tuesday November 18, 2008 02:39PM EST
It was greed that prevented Jerry Yang from selling Yahoo months ago to Microsoft. He should have sold it to Microsoft and move on. He wanted to be a hero and look great before investors and now he looks like a fool . He will depart with his tail between his legs. Yang did one good thing for yahoo: Found it. Besides that, his career has been a disaster.
Eddddd - Tuesday November 18, 2008 02:40PM EST
It was greed that prevented Jerry Yang from selling Yahoo months ago to Microsoft. He should have sold it to Microsoft and move on. He wanted to be a hero and look great before investors and now he looks like a fool . He will depart with his tail between his legs. Yang did one good thing for yahoo: Found it. Besides that, his career has been a disaster.
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- Tuesday November 18, 2008 01:21PM EST
To save the village, it will need to be burned.