Jan 17 2012 ↓Jump To Discussion
Jerry Yang announced on Tuesday that he is stepping down from his position on the Yahoo! Board of Directors.
Yang said he is also stepping down from his other positions on the boards of Yahoo Japan Corporation and Alibaba Group Holding Limited.
Excerpt from Yang’s letter to Yahoo! Chairman Roy Bostock:
Yahoo! co-founder Jerry Yang. Courtesy: Getty Images
“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.”
Yang and David Filo founded the company in 1995. Yang has sat on the Yahoo board since March 1995 and served as CEO from June 2007 to January 2009.
Yang had alienated the company’s shareholders by turning down a $47.5 billion takeover offer from Microsoft Corp. in 2008
On January 4 the struggling web giant appointed PayPal chief Scott Thompson as its new CEO.
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