In the midst of a series of Yahoo! employee lay-offs (1,000 in February and 1,430 just this October), Yahoo! CEO Jerry Yang decides to step down.
"Jerry and the board have had an ongoing dialogue about succession timing, and we all agree that now is the right time to make the transition to a new CEO who can take the company to the next level. We are deeply grateful to Jerry for his many contributions as CEO over the past 18 months, and we are pleased that he plans to stay actively involved at Yahoo as a key executive and member of the Board," shared Yahoo! Chairman Roy Bostock.
Yahoo had its heydays during the late 90's but suddenly (and quite irretrievably so) went down the drain at the beginning of this century. And it got everyone asking: What went wrong at Yahoo? Atul Chitnis, a technology consultant, has blogged about this a long time ago. He stated ~ on the problems of Yahoo! India, "I tried to find out the reasons for these problems, but even my friends at Yahoo India weren't talking. That made me very suspicious, and so I had some sniffing done elsewhere. And what I found was horrifying - Yahoo has known about these problems for a long time, but has simply been unable to solve them."*
Will Yang's sacrifice prove beneficial for the company? Or is Yahoo a lost cause? The net could only be too eager to find out.