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