Jerry Yang, the co-founder of Yahoo! (Nasdaq: YHOO), is leaving the company just as Scott Thompson settles into his role as the Internet company's new CEO.
Yang (Image courtesy of Yahoo!)
Coming not long after Carol Bartz was fired last fall, his departure comes as the company continues on its realignment path.
In addition to leaving the Yahoo! board and management team, he left the boards of Yahoo Japan and Alibaba.
Yang said in a statement that "the time has come for me to pursue other interests outside of Yahoo!".
After founding of Yahoo! in 1995 with partner David Fil, Yang served as a member of the board from March 1995 and as CEO from June 2007 to January 2009.
When he could not increase profit losses to competitor Google, Microsoft offered $47.5 billion for the company, an offer he turned down. Yang was then replaced by Carol Bartz as CEO, who was later fired by Yahoo! in September 2011.
The company is reportedly now conducting a strategic review of its operations.
- Bloomberg has this article
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