Yahoo Co-Founder Jerry Yang to Exit Board of Cisco Systems

Andrew Klips |

Yahoo Co-Founder Jerry Yang to Exit Board of Cisco SystemsCisco Systems (CSCO) said that Jerry Yang, the 43-year-old co-founder of internet giant Yahoo! (YHOO), will retire from its board, reducing the board of directors to 13 members of the world’s largest maker of computer network equipment. The remaining board members have already voted to not replace Yang and keep the smaller number of directors.



It has only been a matter of weeks since San Jose, California-based Cisco added Salesforce.com Inc. (CRM) CEO Marc Benioff and Kristina Johnson, the former U.S. Department of Energy Undersecretary to its board. Cisco’s board also includes Carol Bartz, the woman who replaced Yang as chief executive at Yahoo in 2009 until she was run-out of the executive role last year.

Yang will remain as a director until the Cisco shareholder meeting on November 15. Yang, who resigned his director post on Yahoo’s board in January, had been a member of the Cisco board for 12 years. According to a regulatory filing by Cisco, Yang stepped down "to more fully pursue new personal and business interests.”

Shares of Cisco have slid far from a tech-bubble high of $80.13 in 2000 and have lost ground in four out of the last five years as competition continues to stiffen. So far in 2012, however, shares are up about 6 percent.

By Andrew Klips

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer

Companies

Symbol Name Price Change % Volume
CRM Salesforce.com Inc 81.61 0.09 0.11 3,703,267 Trade
WCM.A:CA Wilmington Capital Management Inc. Class A Non-vot 3.25 0.00 0.00 0
CSCO Cisco Systems Inc. 34.08 0.12 0.35 18,127,012 Trade
YHOO Yahoo! Inc. 46.40 -0.20 -0.43 5,607,667 Trade

Comments

Private Markets

Knightscope

Autonomous security robots providing advanced detection capabilities at $7 per hour - aiming to define the future of security. Help #StopTheViolence.

Cross Campus

With over 500 members and operating 80,000 square feet by summer 2016, Cross Campus is one of the country’s top ten shared, collaborative office or "coworking" operators in the US.…