Silicon Alley Insider's Henry Blodget is reported a rumor that Jerry Yang, CEO of Yahoo!, may resign today -- and soon afterward reporting that Yahoo "emphatically denied" the rumor.
EARLIER: A hedge fund source says a rumor is going around that Yahoo (YHOO) CEO Jerry Yang plans to resign. This wouldn't surprise us, especially after a 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.
It seemed odd to think that he'd resign in the midst of a heated battle with Carl Icahn -- which seems to have gotten a bit personal lately, and bigger, with Microsoft backing Icahn -- but as Blodget suggests, such a move could have been characterized as strategic. More than a few people (not counting Icahn) publicly think it's time for Jerry Yang to quit at least the battle with Microsoft and Icahn.