Yahoo! Founder Jerry Yang Resigns from Board of Directors

January 18th, 2012 at 11:50 am
 


Yahoo has announced that its co-founced Jerry Yang has resigned from its Board of Directors, as well as his role from Yahoo Japan and Alibaba. Yang’s announcement, as well as the press statement, do not indicate any reason for his resignation.

“My time at Yahoo!, from its founding to the present, has encompassed some of the most exciting and rewarding experiences of my life,” Yang wrote in a letter to company chairman Roy Bostock.

“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’s resignation comes after Thompson’s appointment as Yahoo’s CEO. He previously worked as president of PayPal.

Yang co-founded Yahoo! with David Filo in 1994. He became CEO from June 2007 to January 2009. He relinquished his CEO position to Carol Bartz after much criticism from his handling of acquisition discussions with Microsoft and the company’s lagging performance. Bartz resigned two years later.

Meanwhile, majority shareholder Daniel Loeb complained about allegations that Yang was trying to enlist private equity firms in a bid to help him take over the company. Loeb said that Yang had to resign from the Board of Directors if the reports were true.

Source: Business Wire, via TechCrunch

 

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