Yahoo’s stock today jumped on the news that Jerry Yang would be stepping down as CEO. Not just a blip either…it jumped almost 20%…to the tune of $2 billion in market value. Not a great sign of confidence in his abilities to run the company…or sell it off to Microsoft in pieces (as it were).
Contrast this with Steve Jobs. A fake news report comes out that he’s had a heart attack and the stock drops by 20%. Even losing a few pounds seems to hurt the stock.
Is one person at a company enough to shift the value that much? If so, a good CEO is actually worth the outrageous money they make.
Honestly, this is a sad moment for Yahoos even if the stock holders are happy. Yahoo, as we know it, will likely cease to exist as we know it. In the long term, we’ll probably be worse off than before as Web users for his departure…have your say?
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