Yahoo! Inc. Denies Yang Resignation Rumors (YHOO)

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By Douglas A. McIntyre Published
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There have been light rumors floating around that Jerry Yang was going to resign from Yahoo! Inc. (NASDAQ: YHOO).

We just put in a call to the company and this is a strong denial of any such rumor.  We spoke with Brad Williams in investor relations who said in response to "Is this a false rumor?" and he responded "Definitely! There’s no basis."  He also said they have no idea where the rumor came from.

There is good news here and bad news here.  If Carl Icahn gets his way, Yang (and current friends) won’t have to worry about whether or not he (or they) intend to resign or not.  It could happen for them against their wishes.  It also shows that Yang is going to fight for his agenda, whether some shareholders like it or not.

Yahoo! shares are down 1% at $24.39 today, and there is not even abnormal trading volume.

Jon C. Ogg
July 9, 2008

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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