Yang exit would show Yahoo! is serious about a deal

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Posted Jul 10th 2008 12:00PM by Tech Confidential
Filed under: Deals

Yahoo! Inc. (NASDAQ: YHOO) was quick to shoot down unsubstantiated rumors that CEO Jerry Yang was stepping down on Wednesday. It wasn't the first time such reports have cropped up, and it probably won't be the last.

While we'll take Yahoo!'s word, for now, that Yang has no intention of resigning, it's certainly not out of the realm of possibility that the company's co-founder could choose to abandon his post. Within the next couple of weeks, Yahoo! should have a pretty good idea how it's doing in its proxy fight with activist investor Carl Icahn. If the internet company is in real jeopardy of losing, Yang could decide to fall on his browser in hopes of allaying shareholder anger at the company over the derailed deal talks with Microsoft Corp. (NASDAQ: MSFT) and taking some of the sting out of Icahn's campaign. Also, taking Yang out the equation would send a message that Yahoo! is serious about at least entertaining a deal, since he's been perceived as a major obstacle to a transaction.

To that end, All Things Digital's Kara Swisher is reporting that Icahn is trying to enlist former AOL head Jon Miller or Fox Interactive Media executive Ross Levinsohn, both partners at venture firm Velocity Interactive Group, to take the CEO post at Yahoo!

Continue reading at TechConfidential.com.

Tags: Carl Icahn, CarlIcahn, MSFT, YHOO

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