By Osagie Alonge
- Jerry Yang
Co-founder and former C.E.O at Yahoo!, Jerry Yang has announced his resignation from his position on the company’s board of directors. Yang has also stepped down from his other positions on the boards of Yahoo Japan Corporation and Alibaba Group Holding Limited.
Yang, on Tuesday, January 17, 2012 wrote the Yahoo! Board Chairman Roy Bostock via a press release:
My time at Yahoo!, from its founding to the present, has encompassed some of the most exciting and rewarding experiences of my life. However, the time has come for me to pursue other interests outside of Yahoo! As I leave the company I co-founded nearly 17 years ago, I am enthusiastic about the appointment of Scott Thompson as Chief Executive Officer and his ability, along with the entire Yahoo! leadership team, to guide Yahoo! into an exciting and successful future’, the statement read.
Yahoo! was founded by Yang and David Filo back in 1995 and the former assumed the position of C.E.O from June 2007 to January 2009.
The New York Times refers to Yang’s tenure as CEO as ‘turbulent’. In 2008, Microsoft offered to buy over the company for $47.5B (N7.6T), Yang turned down the offer.
On January 4, 2012, PayPal boss Scott Thompson was announced as C.E.O, taking over from Carol Bartz who left in September 2011. Thompson is Yahoo’s fourth CEO in less than five years.
1 comment
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