Jerry Yang Quits As Yahoo! CEO
Yahoo CEO Jerry Yang has decided to step down from his post after a series of pitfalls plaguing the company.
Yahoo has been struggling to turn its business around after it refused Microsoft's buyout offer and instead opted to make a deal with Google. The deal was unfortunately called off following a string of complaints from advertisers and a legal investigation from the US Department of Justice. After Google announced its decision to scrap the agreement, Yang made a final plea to Microsoft CEO Steve Ballmer to acquire Yahoo. Ballmer, however, rejected Yang's call and expressed no interest in making another offer to Yahoo.
Yang's resignation will most likely bring Microsoft back to the negotiating table with a new proposition. Microsoft executives are purported to have been annoyed by Yang's attitude to takeover talks. With the new Yahoo leadership, some analysts believe a novel agreement will be immediately established.
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