Coyote Tracks looks at Yahoo!’s press release re: Jerry Yang
Yahoo! Announces Resignation of Jerry Yang
Yahoo! Inc., the premier digital media company,
Remember when you used us? We do, too. ∗sigh∗
today announced that Jerry Yang has resigned from its Board of Directors and all other positions with the company, effective today.
Okay, we’ve finally gotten rid of him. Happy?
In a letter to the Yahoo! Board Chairman Roy Bostock, Yang wrote:
“My time at Yahoo!, from its founding to the present, has encompassed some of the most exciting and rewarding experiences of my life. However, the time has come for me to pursue other interests outside of Yahoo! As I leave the company I co-founded nearly 17 years ago, I am enthusiastic about the appointment of Scott Thompson as Chief Executive Officer and his ability, along with the entire Yahoo! leadership team, to guide Yahoo! into an exciting and successful future.”
“And you’re telling everyone you’ve hired him to keep the company independent, after chewing my ass off in 2008 because I kept the company independent. Have fun going down with the ship, losers. I’m gone.”
“Jerry Yang is a visionary and a pioneer, who has contributed enormously to Yahoo! during his many years of service,” said Roy Bostock, Chairman of the Yahoo! Board.
Seriously, vision is the last thing our company wants these days.
Bostock concluded, “We appreciate Jerry’s comments and share his enthusiasm for the company’s prospects. With Scott Thompson leading an outstanding team of Yahoos to deliver innovative products and an engaging customer experience, Yahoo!’s future is bright.”
I’m not talking about what those products and that experience is because frankly we don’t have a clue. But Thompson came to us from PayPal, and everybody loves PayPal, right?
“I am grateful for the warm welcome and support Jerry provided me during my early days here,” said Scott Thompson, Yahoo!’s Chief Executive Officer. “Jerry leaves behind a legacy of innovation and customer focus for this iconic brand, having shaped our culture by fostering a spirit of innovation that began 17 years ago and continues to grow even stronger today. Jerry has great confidence in the future of Yahoo!, and I share his confidence in the enormous potential of Yahoo! in the days ahead.”
Actually, Roy, after my “strategic review,” I plan to sell off whatever pieces of this company are still valuable or—if I’m lucky—foist the whole thing off on Alibaba, then go on a year-long bender with Jerry in the Caymans. What’s your exit strategy?
