Jerry Yang stepped down as CEO of Yahoo today. It's about time! Yang turned down Microsoft's offer to buy the company for more than 44.6 billion ($33 a share) because he said that the company was worth more. The Microsoft offer represented a 62 percent premium over it's market value at the time. So, how has Yahoo done under Yang's leadership since then? Today Yahoo is valued at a whopping $12 a share. Way to go Jerry.
How did the market react to Yang's resignation? The market cap increased $2 billion today. That pretty much says it all.
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