UPDATE: Yahoo emphatically denies the Wall Street rumour that Jerry Yang is planning to resign.
As evidence, Yahoo points to Jerry’s interview yesterday with the WSJ (why would he do this if he were quitting?), as well as his attendance at the Sun Valley conference this week.
EARLIER: A hedge fund source says a rumour is going around that Yahoo (YHOO) CEO Jerry Yang plans to resign. This wouldn’t surprise us, especially after a reportedly disastrous meeting with major shareholder Gordy Crawford earlier this week. We also think this would be a smart move for Jerry and the company.
As we’ve said, we think Jerry should step back into Chairman/Founder/Board role and hire an experienced operator to pound Yahoo into shape. And far better to do this voluntarily and smoothly than to get decapitated at the shareholder meeting.
A resignation immediately following yesterday’s interview with the Wall Street Journal seems unlikely. But we have to believe this is under discussion at Yahoo as a way of dealing with the Icahn-Microsoft-Shareholder Meeting-Yahoo problem.
No confimation/denial yet. More if/when we get it.