After Jerry Yang announced it will step down as chief executive as soon as the board finds a replacement, shares went up 4 percent on hopes his departure will clear the way for a deal with Microsoft. Yang tried to carve an independent strategy for Yahoo and was blamed when Microsoft Corp walked away from an offer to buy the company earlier this year. Than the deal with Google went wrong and now the company is in a bad shape,

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Never a publication to mince its words, The Economist flatly states that Yahoo CEO Jerry Yang must go. In fact, the business journal goes so far to say that Yang should have never re-assumed the role of CEO in the first place. “A mistake it clearly was,” the report says, “and it is time for Mr. Yang and Yahoo’s shareholders to say so.” (more…)

In an interview with The Wall Street Journal, Yahoo CEO Jerry Yang says that “to trust Carl Icahn and his board is really a bad choice,” adding that Microsoft is trying to squash the company’s share price without any real desire to complete a deal. (more…)

Jerry Yang sent an e-mail to employees saying the board is still undecided about Microsoft’s $44.6 billion acquisition proposal, but that it is evaluating all its options and will do what is best for Yahoo and its shareholders.