- Top Tags
- Biz (2959)
- Yahoo (329)
Jerry Yang steps down as Yahoo CEO
Going back to former role as replacement sought
18 November 2008 8:58 GMT / By Amy-Mae Elliott
Yahoo has announced that Jerry Yang will step down as chief executive as soon as the board finds a replacement.
Yang will not leave the internet company, but will go back to his previous role as "Chief Yahoo".
Yang has faced criticism from investors and analysts for not finalising a deal that would see Microsoft buying the struggling company.
Yahoo's shares have risen 4% on the back of Yang's departure with the notion that it might clear the way for a renewed Microsoft offer.
"From founding this company to guiding its growth into a trusted global brand that is indispensable to millions of people, I have always sought to do what is best for our franchise", Yang said in a statement.
Yahoo chairman Roy Bostock is now looking for a replacement, from both internal and external candidates, a process that could take up to 12 weeks.
HARDWARE
iTablet launches from UK company Like the iPad but with USB ports, Flash, multi-tasking, choice of OS, HDMI...
CAMERAS
New Canon camera to be launched on 8 February? New models inbound?
HARDWARE
15 easy tips to make Windows boot up faster How to start up in a hurry without spending too much cash
Comments