It's gotta be a bit humiliating for any chief executive when their company's stock jumps after their departure. Fortunately for Terry Semel, it doesn't look like this will be something he has to endure. After an initial jump, Yahoo's stock has given back all of its gains, as the realization sets in that the ascension of Jerry Yang won't be some magic bullet to turn the company around. The market's muted reaction echoes the sentiment among many folks, who feel that the announcement did little to inspire confidence. If anything, the handling of the announcement only furthered the impression that Yahoo is unaware of its own troubled state, as the change was presented as if it were the next logical step along its existing path. Some of the company's language could be chalked up to typical corporate puffery, but the market obviously wanted something much stronger than it actually got.
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