MENU

Yahoo co-founder Jerry Yang leaving company

January 18, 2012 • Business


FILE – In this Jan. 7, 2008 file photo of Yahoo CEO Jerry Yang gestures in the Yahoo booth after he gave his keynote address at the Consumer Electronics Show (CES) in Las Vegas. Yang announced Tuesday, Jan. 17, 2012, that he is leaving Yahoo. The surprise departure comes just two weeks after Yahoo Inc. hired former PayPal executive Scott Thomson as its CEO. Yang expressed his support of Thompson in his resignation from Yahoo’s board of directors. He had been on Yahoo’s board since the company’s 1995 inception. (AP Photo/Paul Sakuma, File)

SAN FRANCISCO (AP) — Yahoo co-founder Jerry Yang is leaving the struggling Internet company, as it tries to revive its revenue growth and win over disgruntled shareholders under a new leader.

The departure, announced Tuesday, punctuates the end of an era at Yahoo, a tarnished Internet icon that has spent much of the last decade scrambling to catch up to Internet search leader Google Inc. — a company that got early encouragement and advice from Yang. It comes just two weeks after Yahoo Inc. hired former PayPal executive Scott Thompson as its CEO.

Thompson is the fourth CEO in less than five years to try to turn around Yahoo. It’s a daunting assignment that Yang was unable to pull off during his own tumultuous 18-month reign as the company’s CEO in 2007 and 2008.

Yang, 43, endorsed Thompson in his resignation from Yahoo’s board of directors. He had been on Yahoo’s board since the company’s 1995 inception.

“My time at Yahoo, from its founding to the present, has encompassed some of the most exciting and rewarding experiences of my life,” Yang wrote in a letter to Yahoo Chairman Roy Login to read more

Related Posts

Comments are closed.

« »