A tough tenure for Jerry Yang as Yahoo CEO: Say "no" to a $33-a-share offer from Microsoft near the beginning of your tenure and then exit six months later with the stock at $10. Some folks will blame Jerry for all of that decline ($23 a share, or $32 billion), but Terry Semel, Google, ten thousand Yahoos, and the global economic collapse are responsible for a lot of it.
This morning, however, we get a real-time market appraisal of Jerry's value to Yahoo as CEO: -$2 billion.
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Yesterday, the stock closed at $10.60. This morning, it looks as though it will open at about $12. That difference--$1.40 times 1.39 bilion shares outstanding--gives you the market's appraisal of the CEO change.
