Yahoo: Is ex-CEO Jerry Yang trying to buy back the company?
Is ex-CEO Jerry Yang trying to buy back Yahoo?
Well, yes, according to Business Insider's Nicholas Carlson.
"He's trying to buy it," Carlson wrote of Yang in his brief online report on the rumor, which is attributed to one unnamed "source close to the situation."
"There is a feud going on between Yang and Yahoo chairman Roy Bostock," Carlson wrote.
Yang co-founded Yahoo with David Filo in 1995 and was Yahoo's CEO before he left in 2009, when the company hired Carol Bartz as chief executive. Bartz was fired by Yahoo's board on Tuesday.
Much of the reason behind Yang's decision to leave Yahoo's CEO post has been attributed to a failed deal that would have seen Microsoft overtake Yahoo.
Yang still owns about 3.63% of Yahoo, while Filo owns about 5.8%, Carlson said in his report. The two might team up to make some changes at the company, and Yang is reportedly considering looking for more capital to buy more Yahoo stock, the Business Insider report said.
On Thursday, the recently fired Bartz called Yahoo's board a bunch of "doofuses" and Third Point LLC, a New York investment group that owns about a 5.1% share of Yahoo, called for the company's board to resign.
-- Nathan Olivarez-Giles
Photo: Yahoo headquarters in Sunnyvale, Calif., in 2008. Credit: Paul Sakuma / Associated Press