Late yesterday afternoon Yahoo announced that co-founder Jerry Yang retired from his position on the board of directors at the company he helped start 17 years ago. Yang co-founded Yahoo with David Filo and held the position of CEO from June 2007 to January 2009, until he was fired for Yahoo’s performance during his tenure and was replaced by Carol Bartz.
Yang wrote a letter to Yahoo’s Chairman Roy Bostock saying, “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 and exciting and successful future.” Yang has officially relinquished all ties with Yahoo, resigning from the board and all positions he held within the company.
Jerry Yang’s departure from Yahoo comes just a short time after Scott Thompson was named the new CEO. It definitely presents an interesting wrinkle to the challenges that the new CEO must face in his attempt to return Yahoo to glory.
What do you think of Jerry Yang’s departure? Will Yahoo ever return to it’s glory days? Tweet us @jasegroup and let us know what you think. As always, please feel free to share this content.
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