Jerry Yang has quit Yahoo, the company he co-founded with David Filo in March 1995. His resignation is effective immediately just weeks after Yahoo had announced Scott Thompson as their new CEO.Yesterday Yahoo announced that Yang had resigned from the Board of Directors and all other positions within the company. Yang had been on the Board of Directors spanning nearly 17 years.
In 2007, Yang replaced Terry Semel as CEO but stepped down from the job a year later. This led to Carol Bartz becoming the CEO in 2009 but 2011 seen Bartz ousted from the position and was eventually replace by Scott Thompson.
Thompson said of Yang “I am grateful for the warm welcome and support Jerry provided me during my early days here. 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.”
Jerry Yang had this to say about his time at Yahoo “My time at Yahoo!, from its founding to the present, has encompassed some of the most exciting and rewarding experiences of my life. 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 still owns 3.6 per cent of the company.
