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Comment RSSYahoo crisis: Who’ll be Yang’s successor?
17.11.08 # 22:40Visited 101 times, 2 so far today# Business, Tech # One Comment
SAN FRANCISCO: Jerry Yang has decided to give up the CEO post of struggling Yahoo Inc. at the same time it’s still unclear that who’s going to be his successor. Yang’s move has thrown the internet giant without a clear leader.
Though the company said it would consider internal and external candidates for the job. Yahoo President Sue Decker is one of the candidates under consideration, a person familiar with the situation, according to the company sources.
The new CEO will face a series of difficult challenges, including trying to turn around Yahoo’s slumping online advertising business.
Yahoo, which earlier this year was the target of a $47.5 billion unsolicited takeover attempt by Microsoft Corp. (MSFT), said Monday it had hired a search firm to look for a successor to Yang, who co-founded the 13-year-old company while he was a graduate student at Stanford University.
The company, once the leader in Internet advertising, has been losing share in the market for Internet search to Google Inc. (GOOG) and it has been unable to make as much money per search as its larger rival.
Yahoo has also been hard hit by the weakening economy.
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