Co-Founder Yang Leaves Yahoo
He resigns from all positions, including board
By Matt Cantor, Newser User
Posted Jan 17, 2012 5:18 PM CST
Jerry Yang.   (AP Photo/Paul Sakuma, file)

(Newser) – Yahoo co-founder Jerry Yang has resigned as a board member and from all his other company positions. In a letter to the board's chairman, Yang said it was time for him to "pursue other interests," according to a company statement. He had faced criticism from shareholders; some believed he was holding the company back from an overhaul, the Wall Street Journal notes. But chairman Roy Bostock praised Yang's "remarkable perspective, vision and wise counsel." The company's stock price climbed some 3.7% in after-hours trading following the news.

The resignation comes amid turbulence at the company. Yahoo recently appointed former PayPal head Scott Thompson as CEO, and the firm is gearing up for a shareholder meeting this spring that's sure to be contentious. The take from the Between the Lines blog at ZDNet: Good riddance. The bloggers think Yang should have left in 2009 after "screwing up" a potential deal with Microsoft, a mistake that has haunted the company since. His departure could lead to a "dramatic restructuring that could revamp the company."

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Showing 3 of 3 comments
Winston_Smith
Jan 17, 2012 7:29 PM CST
Been obvious for years that they need to sell out to whoever will buy them for whatever they can get, there's no real company anymore, some of the individual divisions and investments still have value but there is no synergy between them.
InferiorToYou
Jan 17, 2012 7:24 PM CST
Yahoo will continue to suck either way
Scaramouche
Jan 17, 2012 5:25 PM CST
...and so the scapegoat is herded from the village, as the villagers look on in relief and cheer. The headman of the village dances about the sacred fire, leading the chanting. The gods have been satisfied, and the village will be safe for another year, and soon the rains will return. Later that night will come the feasting and the orgies, but for now, the villagers are content to watch the scapegoat head out into the savannah, as young village boys cast stones to spur it onward. But, for the goat, this is a most dangerous time. There is little to forage on the savannah at this time of the year, and hungry predators abound. The scapegoat will be fortunate to survive until the rainy season comes again. For the the spotted lark, however, the dry season is a time of feasting...... PBS rocks!