Yahoo Inc. left without a clear leader

Yahoo Inc. Chief Executive Jerry Yang is to give up his position; this puts Yahoo in an awkward situation as they will not have a leader to guide them. The struggling Internet giant could now face another offer for someone to buy them out.

Yahoo has already been involved in a takeover bid by Microsoft Corp. for $47.5 billion. Yahoo has now hired a search firm, so that they can find someone to take Yang’s place. Jerry Yang co-founded Yahoo 13 years ago, while he was still a graduate student.

Yahoo will have to act fast, as not having a CEO is not good for a company, and surely stocks will fall even further. The search engine giant has said that they will consider internal and external candidates for the position.

Read full article