More names surface for Yahoo CEO job
The Business Journal of the Greater Triad Area
Two new names have surfaced in speculation for who will replace Jerry Yang as Yahoo Inc.'s chief executive officer.
The Wall Street Journal said Tim Armstrong, a senior vice president at Google Inc. (NASDAQ: GOOG), and Peter Chernin, president of News Corp., are being considered, citing unnamed "people familiar with the situation."
Others expected to be in the running are Susan Decker, Yahoo's president; Daniel L. Rosensweig, the former chief operating officer of Yahoo; and Jonathan F. Miller, the former head of Time Warner Inc.'s AOL unit
Decker's bid is handicapped by the worries of some large investors that she doesn't have sufficient management experience to take the reins.
The Journal reported that Yahoo Chairman Roy Bostock is leading a committee of directors in the CEO search. Another director involved is reportedly includes Frank Biondi, the former chief executive of Viacom Inc.
Carl Icahn, who led a proxy battle t get Yahoo to accept Microsoft's offer, is not on the search committee, the paper said.
Yang announced on Monday that he will step down as CEO but remain as a Yahoo (NASDAQ: YHOO) board member and return to being the "Chief Yahoo."
Yahoo shares rose almost 9 percent Tuesday on the news, closing the day at $11.55. That is still a far cry from the $33-a-share offer from Microsoft Corp. (NASDAQ: MSFT) that Yang and others rejected as undervaluing the Sunnyvale company earlier in the year.
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