The Jorge Zone

Wow, he finally did it. Jerry Yang has finally decided to step down as CEO of Yahoo. Maybe it’s because he couldn’t take the stress anymore. I am sure his working environment wasn’t very plesant anymore. His employees who probably had a nice chunk of Yahoo in their 401Ks certainly can’t be pleased.

They probably don’t talk to him. They probably laugh at him when he is not looking, and when he asks “What are you laughing at?” they reply with more laughter. He sits in his office to find his stapler in Jell-O, then turns on the TV to find that he is the highest ranking member of the Mad Money Wall of Shame. Here is his official statement, courtesy of Kara Swisher over at All Things Digital (one of my favorite sites):

To: all yahoos
Fr: Jerry
Subject: update

yahoos -

i wanted to address all of you on the news we’ve just announced. the board of directors and I have agreed to initiate a succession process for the ceo role of yahoo!. roy bostock, our chairman of the board, is leading the effort to identify and assess potential candidates for consideration by the full board. the board will be evaluating and considering both internal and external candidates and has retained heidrick and struggles to help in this effort.

i will be participating in the search for my successor, and i will continue as ceo until the board selects a new ceo. once a successor is named, i will return to my previous role as chief yahoo and continue to serve as a director on the board.

last june, i accepted the board’s request that i assume the ceo role to restructure and reposition the company as a whole in order to more effectively meet the fast-changing needs of both users and partners. since taking on the ceo role, i have had an ongoing dialogue with the board about succession timing. thanks in large measure to your tireless efforts, we have created a more open, competitive yahoo! and we believe the time is now right to transition to a new ceo who can take the company to the next level.

despite the external environment we face, the fact remains that yahoo! is now a significantly different company that is stronger in many ways than it was just 18 months ago. this only makes it all the more essential that we manage this opportunity to leverage the progress up to this point as effectively as possible. i strongly believe that having transformed our platform and better aligned costs and revenues, we have a unique window for the right ceo to take ownership over the next wave of mission-critical decisions facing the company.

all of you know that I have always, and will always bleed purple. i will always do what I think is right for this great company. while this step will be an adjustment for all of us, i know it’s the right one. i look forward to updating you on this process as soon as the board has developments to share, and will continue to do everything i can to make yahoo! fulfill its full potential.

thank you,
jerry

Jerry, I know you are a nice guy and all, and believe me it’s nothing personal. I hope you take your awesome severance package and find something you enjoy to do. Peace Out Jerry.