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Yahoo's Problem Starts With The Board (YHOO)

Source: Silicon Alley Insider

Dec 06, 2008

Summary

For the past year, Jerry Yang and Sue Decker have been the primary pi atas for Yahoo's (YHOO) frustrated employees and shareholders. Much of this criticism is deserved: Yahoo's problems were clear 18 months ago when Jerry took over and, since then, things have only gotten worse.

But Jerry and Sue aren't the only problem here. Yahoo's board of directors has presided over every lousy decision that has been made in the past five years, including the bloat, the complacency, the strategy, and the decision that may go down as one of the worst in business history: To refuse Microsoft's pre-emptive half-cash offer of $33 a share.

Now that Jerry has agreed to step aside and fall on his sword, Yahoo's Board has been granted another reprieve. As they search for the next CEO, they can nod at each other and agree: It was all Jerry's fault.

But it wasn't, of course. It was the Board that hired Jerry in the first place. Along with Terry Semel, who made some of the mistakes that set up the current mess.

Today's Wall Street Journal interview with Microsoft's Steve Ballmer and t

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