Jerry Yang is the $1.8 billion man. The stock market thinks Yahoo is worth that much more without Yang at the helm.
That’s approximately how much the market capitalization of Yahoo’s stock went up this morning, with the first trade after last night’s announcement that Yang would be stepping down as CEO. The shares were up nearly 12 percent in early morning trading. They opened at $11.94, compared to a close of $10.63 last night. (The $1.31 difference X 1.4 billion shares outstanding = $1.83 billion)
With Yang gone, the prospects of a renewed deal with Microsoft (at least on the search advertising front) are now greater. So are the prospects of finding someone who can take Yahoo, and hopefully it’s stock, in a new direction
The question is: Can Yahoo pick a CEO who will add more than that to Yahoo’s market cap? I guess Mark Cuban is out of the running.
I would like to be Yahoo’s new CEO. Where can I apply for this job?
Dude…I am in the line before you were even born
Sorry guys, vacancy filled – it’s time for a woman boss
wow that seems to be a long queue
Seems as though you can apply at the 37s job board:
http://changing...mages-of-yahoo/
My vote is for that crazy guy who says he made up YouTube and PayPal
ah, yang is still on the board tho.
I seriously hope Yahoo doesn’t get sold to M$ w/ Jerry gone. Personally, I think the new direction that Jerry puts Yahoo on – Y!OS and YUI based frameworks… the new openness will help Yahoo in the long run.
Selling out to M$ will only get the shareholders temporary relief, but will KILL Yahoo in the long run. Really Really hope Yahoo doesn’t get sold.
> Selling out to M$ will only get the shareholders temporary relief, but will KILL Yahoo in the long run.
Precisely, cloneofsnake. This is a bit like saving rainforest natives by putting them to work in a chain of Macdonalds.
How about Guy Hands?
My vote is for Guy Kawasaki.
Is it the first of April already????
Icahn and Ballmer are having an extra martini at lunch today.
Guy Kawasaki is probably the most over rated entrepreneur ever. I would like to some one from Indian origin to come on as Yahoo! CEO
so everyone left at yahoo can lose their jobs to cheap outsourcing in india? no, thank you.
My vote is Loren Feldman as my first choice. My second choice would be Michael Arrington
Now you’ve got it. Arrington’s been practicing for the job ALL YEAR!
That’s a very hasty and not particularly accurate conclusion, based on the chart you’re showing. But it’s all about sensationalism over accuracy or actual thought for you, isn’t it.
Duuuude Yahoo is DEAD, Jerry made sure of that… and too bad he’s still on the board, get rid of him all together and you add another 2 billion….
I think it’s honorable that he stayed on board so long until there was no more value to be destroyed… he made sure that he hit rock bottom before leaving… the main problem is that he can’t accept defeat. Had he done so many jobs, good people and opportunities could have been saved.
Now he’ll be remembered as the one who destroyed the most value in a silicone valley company… in the shortest period of time.
yaho needs to offer greater custom strategic niche offerings for users to keep them engaged. i have assembled the greatest potential portfolio to offer these custom niche offerings to users.
i can give custom email makeovers to all existing email users on a 1300 channel natural language location grid.
jim2004@yahoo.com becomes jim2004@1300 natural language locator dot com channels. imagine the custom subsite offerings. if they are smart they will call.
GeniusLocator.com – trust wisdom
You’ve been pitching your trash all over Techcrunch for about six months now.
This is one of the world’s most widely read blogs for Web CEO’s, VC’s and Angels yet your amazing business STILL hasn’t been bought or funded.
It might be time to take stock. No one is interested. The sooner you realize that, the sooner you can move on to an idea that might actually be worth something.
You’ve obviously got passion, now all you need is a viable business idea. Good luck.
OMG
I think Michael Arrington should become the new Yahoo CEO. Think about it:
1) He campaigned for Jerry to step-down for months now
2) He knows a thing or two about technology
3) He would finally get TC to stop writing about Google in every second post.
What do you say?
I even thought about a spreading sticker around the valley based on Michael’s initials (MA):
Y a h o o M A M A
4) Loves Microsoft
5) would add seesmic comments to Yahoo! front-page
I think MSn having power over Yahoo will not really help it long term. Not taking anything away from MSN at all, Yahoo would be better off with them.
Yang is not dumb, he finally realized his stepping down as CEO would make him and stock holders millions!
There aren’t many companies out there that are doing well. I think the rejection of the microsoft deal and then the economy tanking right after is what made the situation seem so much more dire and placed the blame on Yang. As though the loss of the deal is what killed the company.
I can see why he stepped down though. It looked like it was increasingly difficult to get anything done with shareholders who wanted his head but have no solution for the long term.
Oh Erick. You’re so clever.
Hey, this is sad and funny at the same time!
That’s why measuring the success of a company based on its stock price is ridiculous. Investors/speculators are betting on a future event that they think favorable of a company even though the future event does not materialized.
The stock price of a company goes up and down not because of the performance of a company but of what investors execute at the time of the price. And the SEC likes to get involve in regulating information. That’s stupid. Certain investors feel certain ways about certain event.
I don’t know why Techcrunch is being so mean with Yang. I second with Mo Kakwan. It’s easy to blame everything on one person – Yang, in this case. But in reality, it’s not as simple and clean as that. And I don’t believe Michael Arrington will be a better CEO than Yang at Yahoo. It’s a heck of a job that’s difficult even for a smart guy like Yang.
Let me guess, you voted for Bush in 2004?
well, i do think yang is responsible for his lack of vision (a poor vision that made yahoo a media company that simply aggregate public info everyone has access to) and his hiring of terry semel.
Bruce Chizen, who was the CEO of Adobe until a year ago will be an excellent choice to get Yahoo out of its rut. Even Stephen Elop, ex Macromedia CEO who did a great job at turning around Juniper will be good.
TechCrunch should throw a party since you guys are so happy that Yang is gone now.
I’d go to it.
So, Since he owns 4% of yahoo, he just made 72 million today, by quiting his job
I vote for Guy Kawasaki..
Quit it with Guy Kawasaki. Kawasaki is dumb. He can’t run a proper company.
If Kawasaki ran Yahoo! He’d turn it into AllTop.
Its a tough road ahead for Yahoo’s next CEO, ad revs will be down and he or she will have to decide on the direction of their search business.
Boomtown picked Mike Volpi as a prospective new head of digital at Microsoft but he would be better suited to the challenge of taking Yangs place at Yahoo.
As a stock holder I would have loved the value Microsoft was offering. This idiot Yang made big statements about how Yahoo will be this and that. Yahoo is now an irrelevant company where it comes to revenues, profits and all the things that matter for a business.
Yahoo was a fail since quite some time. What have they got which is so special? Except the Yahoo messenger, its all a fail!
Too late you fool. You should have stepped out long ago. Now stay out of Yahoo board too and go back to finger painting or something.
nice arrow… could you exaggerate the graph a bit more????? Maybe make it a closer shot, have the chart being in 1/2 cent marks, and put the arrow below 0???? Yea up 11% but wait until the sell off and business as usual.
Now everyone together…. “A monopoly of search engines is good!!!! All hail Google (unless they best the iPhone)”
Hahaha, Yang’s resignation was 8months too late.
We can only wonder what is next for Yahoo!.
It will be interesting to see who they elect as their new CEO. I predict a slight rise in stock and then a bigger drop when the CEO announces that there is a tonne of work to be done and that it will take time ‘but they will make it’….
This article spoke too soon. A day after the stock came down to $9.14. By Michael’s logic, the market is taking Yangs departure rather badly. He could at least waited for a stable run on Yahoo’s stock before making such remarks. This seems plain hasty and prejudiced against Yang to me.