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Yahoo! Forces Out Jerry Yang (YHOO, MSFT, CSCO)

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By Jon C. Ogg Updated Published
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Yahoo! Inc. (NASDAQ: YHOO) is surging in the after-hours session on news which many investors have been hoping would come for years.  Jerry Yang has finally resigned from Yahoo!  The resignation says that Yang is now off of the board of directors and as of today is now out of all other positions in the company.  Here is what is going to drive interest in the company’s ability to monetize its Asian assets: Yang has also resigned from the boards of Yahoo! Japan and from Alibaba Group Holding Limited with an effective date of today.

As far as how this matters, it is twofold… Yahoo! is barely half of its market value today compared to when Microsoft Corporation (NASDAQ: MSFT) made its buyout offer.  Jerry Yang’s role in that acquisition at the time was “Chief Reality Blocker.”  By resigning from the boards of Alibaba and Yahoo! Japan, now the company will be better able to monetize those assets.

This is classified as a resignation.  In reality this is a force-out.  Needless to say, many investors are going to be glad to see Jerry Yang out of the way.  Very, Very Glad!

We have been curious as to why Cisco Systems Inc. (NASDAQ: CSCO) has kept Jerry Yang on its board of directors as a non-employee director.

Yahoo! shares closed down 0.3% at $15.43 on Tuesday and shares are up 3.3% at $15.95 in the after-hours session.

JON C. OGG

Photo of Jon C. Ogg
About the Author Jon C. Ogg →

Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.

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