San Francisco: Yahoo Inc co-founder Jerry Yang has quit the Internet company he started in 1995, potentially appeasing shareholders who had blasted the Internet pioneer for impeding efforts to revive the struggling Web company.
Yang's abrupt departure comes two weeks after Yahoo appointed Scott Thompson as its new CEO, and after growing criticism of Yang and his handling of affairs dating back to an aborted sale to Microsoft. Yang is leaving the company's board of directors as well as all other positions within the company effective Tuesday, the company said.
Shares of Yahoo gained 3.4 per cent in after-hours trading on Tuesday. Analysts say Yang's exit might speed discussions surrounding a multibillion-dollar deal to sell much of Yahoo's prize assets - its 40 percent slice of China's Alibaba, as well as its investment in Yahoo Japan.
"Everyone is going to assume this means a deal is more...
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05:37 AM, Jan 18, 2012
San Francisco: A major Yahoo Inc. shareholder is recruiting company co-founder Jerry Yang to join a crusade to oust Chairman Roy Bostock amid the upheaval triggered by the recent firing of CEO Carol Bartz. The shareholder, hedge fund manager Daniel Loeb, sought Yang's help in a letter sent Wednesday. The direct appeal to Yang, the longest-serving member of Yahoo's board, is the latest twist in the melodrama that has been...
02:47 PM, Sep 15, 2011
San Francisco: Yahoo Inc. has gone through three different CEOs in five years. Whoever takes the helm now will face the same challenge: Solve one of the Internet's most perplexing puzzles. Why is a company that owns some of the world's most widely used online services unable to gain traction among Web surfers, advertisers and investors? Can the company that rode the Internet boom ever again be where the cool...
01:26 PM, Sep 08, 2011
New York: There are few surer ways for an executive to lose a good reputation than to be CEO of Yahoo Inc. Just ask Carol Bartz or Terry Semel. As the company searches for Bartz's replacement, its biggest obstacle is likely the track record of past CEOs after they moved under Yahoo's figurative purple umbrella. "They are going to have a lot of trouble filling that job," said a tech...
12:17 PM, Sep 08, 2011
Yang stepped down last November after a failed buyout deal with Microsoft. ...
03:49 PM, Jan 14, 2009
End of Yahoo's 2 month search for a CEO to succeed co-founder Jerry Yang. ...
12:57 AM, Jan 14, 2009
Jerry Yang to step down after Microsoft, Google deals fail. ...
07:24 AM, Nov 18, 2008
