Will it work?
It has been talked in the media that when a founder comes back to help a company, it usually change things around. Remember what happened with Apple for example? There is, however, a big difference between the innovative style of Steve Jobs and the style of the Yahoo founder. For once, he was never responsible for the day-to-day operations of the company. Moreover, Yahoo is not a startup anymore.
Even more than Google, it has a big-corporation culture that requires people with strong knowledge of administrative techniques, beyond technical knowledge. For example, it is difficult to think that the Google founders could go so far without the expert help of Eric Schmidt.
So, while it is exciting for Yahoo people that Jerry is back, it is hard to see if the change will really be the beginning of a real improvement in the situation of Yahoo.
What are the consequences to Google?
If it was in another situation, maybe this event should have some repercussion on Google. After all, Yahoo is the main competitor in several areas, including search, and it is never wise to dismiss new information about your competitors. However, Google has such a large share of the search market that it is difficult to see they being threatened by Yahoo any time soon. When and if this happens, then it will probably time for Google to be more careful with the steps adopted by this new CEO.
Will it work?