On Tuesday January 17 Yahoo co-founder Jerry Yang declared that he is stepping down from his post on the Yahoo, Board of Directors in addition to his another posts on the boards of Yahoo Japan Corporation and Alibaba Group Holding Limited.
As per the press release, Yahoo was founded in the year of 1995 by Jerry Yang and David Filo, Infact Jerry Yang was with yahoo board in as much as from March 1995,And from June 2007 to January 2009 Jerry Yang worked as a CEO for Yahoo.
On January 4 Yahoo selected its new CEO as PayPal chief Scott Thompson who is going to fill the gap left by Carol Bartz in September 2011,As Scott Thompson is the fourth CEO in below five years.
Thompson praised Yang on Tuesday. "I am grateful for the warm welcome and support Jerry provided me during my early days here," said Thompson in a statement. "Jerry leaves behind a legacy of innovation and customer focus for this iconic brand, having shaped our culture by fostering a spirit of innovation that began 17 years ago and continues to grow even stronger today. Jerry has great confidence in the future of Yahoo!, and I share his confidence in the enormous potential of Yahoo! in the days ahead."
The New York Times refers to Yang's tenure as CEO as "turbulent." Writes the AP, "Although a popular figure among Yahoo employees, Yang had alienated the company's shareholders by turning down a $47.5 billion takeover offer from Microsoft Corp. in 2008."
According to AllThingsD's Kara Swisher that more major changes might occur depending upon the company's Q4 earnings,which would be announced on January 24.If its lower their might be drastic changes of the board and chances of selling some of the shares to the yahoo partners in Asia, Alibaba Group and Softbank.
