Activist: Goodbye, Yang, Hello, Change?

This board will be under intense scrutiny from the media but also its largest shareholders. I hope that people like Gordy Crawford of Capital Research and Mark Casey of Capital World will be heavily involved in the deliberation discussions to keep the current board members in check.

The Yahoo! board probably wants to make the "safe" choice of a big company/Internet experience/former CEO/outsider. Peter Chernin fits the bill. Miller, Levinsohn, Armstrong and Whitman would all be good choices. However, I expect none of them to be interested.

So, ladies and gentlemen, the last man standing to take the Yahoo! CEO job will be a woman: Sue Decker. She has too much baggage to be an acceptable selection for a majority of Yahoo! shareholders, but such concerns haven't stopped this board before.