Jerry Yang Leaves Yahoo
Jerry Yang looks to have finally put his dealing with Yahoo behind him—completely. According to a report by CNBC, Yang is stepping down from Yahoo’s board in wake of Yahoo’s appointment of Scott Thompson as CEO. Yang of course is one of the co-founders of Yahoo and has played the role of CEO before. He’s made it clear that his departure is not borne of ill will, even releasing a statement to that effect.
Speaking about Thompson’s appointment, Yang said in a statement: “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.”
But Yang isn’t just leaving Yahoo’s board; he’s also stepping down from the boards of Alibaba and Yahoo Japan. This wholesale departure is not expected to affect the fortunes of Yahoo either way; you’ll recall of course that Yahoo is rumored to be a takeover target of Microsoft and the company’s share price isn’t doing too well. The appointment of Thompson is expected to turn things round at the company, perhaps making it possible for Yahoo to once again rekindle its past glory.
Do you think Yang’s departure will impact positively on Yahoo’s share price? Let us know below.