One of the founders of Internet company Yahoo - Jerry Yang, is leaving his post of executive director. The move comes after serious criticism of its management to be strengthened after powerful decline in the price of shares in the company forward VVS.
At present, shares in Yahoo worth $ 10 after earlier in the year Yang failed to fight planned by Microsoft hostile acquisition at a price 33 dollars for the shares.
I will always do what is necessary for this great company, Yang wrote in e-mail to employees of Yahoo. In his address he said that will take part in finding a substitute for the post of Executive Director.
As details of VVS Jerry Yang has decided to leave his management position more last month.
The company reported that it is conducted interviews for the post both internal and external to the company faces. Talks are being held by the Chairman of the Board of Directors Roy Bostok.
“Jerry and the Board of Directors led the lengthy discussions on timing and it was agreed that now is the right time to switch to another executive who brought the company to the next level,” said Bostok.
Earlier this month during a seminar on Web 2.0 Jerry Yang podnese surprise by stating that Microsoft still should buy Yahoo. I do not think that this is generally a bad idea if the price is right, whatever it is. We have a desire to sell the company were his words then.
Yesterday, shares of Yahoo closed the-counter trading session in New York at a price of 10.63 dollars cash, which means that the company’s market capitalization has fallen to 14.7 billion dollars.
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