Yahoo founder and CEO Jerry Yang has announced he is stepping down, once the company finds a suitable
replacement. Yahoo says it is currently interviewing candidates both inside and outside. Yang has
publicly expressed his desire to remain at Yahoo's helm, but the company's board of directors faced
intensifying pressure to cast him aside as the company's shares plunges.
On Monday, Yahoo's stock closed a little more than 10 dollars a share. Back in May, Microsoft offered
to pay 33 dollars a share to purchase Yahoo. But Yang balked at the 47 billion dollars takeover bid,
a decision that ultimately led to his demise. The 40 year-old started working on Yahoo back in 1994
with a classmate from Stanford.
At Yahoo's height, its market value stood at 130 billion dollars. Monday, it was less than 15 billion.
Yang is expected to remain on Yahoo's board of directors. Investors appear to be pleased with Yang's
decision to step down. Yahoo's stock climbed more than four percent in Monday's extended trading.
Brian Thomas, The Associated Press.
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* step down from : ~에서 은퇴하다, 사직하다
* replacement : 대체, 후임자
* publicly : 공식적으로
* helm : 주도권, 실권
* board of directors : 이사회
* intensify : ~을 증대하다
* cast aside :①[옷]을 벗어 던지다 ②[불안 따위]를 물리치다 ③ ~을 버리다, 폐지시키다
* shares : 주식
* plunge : 급락하다
* balk : 거부하다
* takeover : 인계, 인수
* bid : 입찰가
* demise : 사임, 사망, 서거, 종말, 소멸
* height : 정점, 전성기
* extend : 연장하다
