After the long period of criticism related to struggling Internet company Yahoo, company’s co-founder Jerry Yang has resigned from the company he started in 1995 with David Filo. Yang, 43, is also resigning from the boards of Yahoo Japan and Alibaba Group Holdings. Yang was replaced by Bartz as CEO, who was fired by the company in September 2011, sources informed.
Jerry’s abrupt departure is punctuating the end of an era at Yahoo.
As a matter of concern, it is found that the news has come just two weeks after Yahoo hired former PayPal executive Scott Thompson as its CEO.
Yang, 43, certified Thompson in his resignation letter to Yahoo's board of directors.
Yang wrote in a letter to Yahoo Chairman Roy Bostock that his time at Yahoo, from its founding to the present, has includes numerous exciting and rewarding experiences of his life. Now, the time has come for him to pursue other interests outside of Yahoo.
Analysts believe, Yahoo co-founder Jerry Yang is leaving the struggling Internet company, in order to revive company’s revenue growth and win over unhappy shareholders under a new leader.
Tags: Yahoo, Jerry Yang, resign, board of director, Yahoo Japan, Alibaba Group Holdings, Yahoo Chairman Roy Bostock
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