Jerry Yang, Yahoo co-founder, resigns from post after 17 years

By on Jan 18, 2012 in Business, Internet, Technology, United States Comments

Jerry Yang has resigned from Yahoo!, the Internet company he co-founded in 1995, or 17 years ago, along with David Filo and served as a member of the Board of Directors since March 1995.

Yahoo co-founder Jerry Yang
Image Credit: EPA

According to a post by Yahoo! on its official press site on Tuesday, January 17, 2012, Jerry Yang resigned from the Board of Directors and all other positions with the company, effectively that day.

As noted in the report, Mr. Yang also stepped down from the Boards of Yahoo Japan Corporation and Alibaba Group Holding Limited, which is also effective that day, in which he sent a letter to Yahoo! Board Chairman Roy Bostock.

“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!Jerry Yang wrote on the letter.

“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 added.

Apparently, Scott Thompson started as Yahoo CEO merely two weeks ago, the president of Paypal who runs eBay‘s online payments unit, replacing Carol Bartz, who was fired on September 16, 2011.

Jerry Yang is a visionary and a pioneer, who has contributed enormously to Yahoo! during his many years of service. It has been a pleasure to work with Jerry.” Roy Bostock, Chairman of the Yahoo! Board, was quoted in the report.

“His unique strategic insights have been invaluable. He has always remained focused on the best interests of Yahoo!‘s stakeholders, including shareholders, employees and more than 700 million users.” Bostock added.

Spread The News!

Tags: , , , , , , , ,


Related News

What's On Your Mind?