This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

10 Company Founders Who Got the Boot

BOSTON ( MainStreet) -- On Tuesday, Yahoo! (YHOO) announced that Jerry Yang, a co-founder of the company in 1995, had resigned from its board.

Did Yang step down by his own choice or was he pushed? That's the story yet to be fully told.

The timing of the announcement will of course lead to speculation, as it comes two weeks after Yahoo named Scott Thompson, a former PayPal executive, as CEO. While Thompson pledges a return to profitability, Yang has been seen by many investors as letting his personal vision and attachment to the company stall necessary restructuring moves. As such, news of his resignation sent shares upward.

In addition to departing Yahoo's board, Yang surrenders a similar post at Yahoo Japan and Alibaba Group, setting the stage that those assets may be sold. Yang's exit could open the door for a broader restructuring of the parent company and attract otherwise gun-shy investors.

If Yang was "encouraged" to leave, it won't be the first time his own company has rejected him. His refusal to accept a $47.5 billion takeover bid by Microsoft (MSFT - Get Report) led to a chorus of critics who derided him for putting his personal attachment to the company over what was in its best financial interests. He was replaced by the tough-talking Carol Bartz.

Yang is far from the only company creator to find themselves on the outs. Here are some other famous founders forced to hit the bricks:
1 of 10

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
APPL $0.00 0.00%
CSCO $28.42 0.00%
EMC $26.89 0.00%
GOOG $625.61 0.00%
IACI $77.26 0.00%

Markets

Chart of I:DJI
DOW 17,689.86 -56.12 -0.32%
S&P 500 2,103.84 -4.79 -0.23%
NASDAQ 5,128.2810 -0.5040 -0.01%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs