Yang quits Yahoo after 17 years of service
by Stevie Mostyn - Jan 18 2012, 12:15
Image: Yodel Anecdotal/Flickr.
Yet more boardroom shenanigans over at tottering Yahoo today, following news that long-serving co-founder Jerry Yang has announced he’s clearing his desk and heading out for pastures new.
Yang’s sudden departure comes as something of a shock given that the online services company only formally announced the placement of former PayPal executive Scott Thompson as its new CEO some two weeks ago.
Beyond severing ties with Yahoo Inc., Yang has also said he’s stepping down from the boards of two major Yahoo properties—namely China’s Alibaba Group and Yahoo Japan.
“My time at Yahoo, from its founding to the present, has encompassed some of the most exciting and rewarding experiences of my life,” said Yang in an official statement. “However, the time has come for me to pursue other interest outside of Yahoo.”
So where now for one of the Interest’s most influential figures? Ordinarily, we’d be tempted to say ‘down’, but after Yang’s now-infamous refusal to sell Yahoo to Microsoft in 2008 (for a staggering $47.5 billion USD), we fancy ‘up’ might be more fitting.
At the time of Microsoft’s aggressive but ultimately failed acquisition attempt, Yahoo’s share value stood at a sturdy $33 USD. It’s currently limping along at less than half that figure. Ouch.
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