As of January 17th Yahoo Co-Founder, Jerry Yang has resigned from Yahoo. His statement was released earlier stating the following:
“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.”
Before yang announced his resigning from Yahoo the company made an executive decision to hire Scott Thompson [who Yang mentioned above] as a new Chief Executive. Many questions are being drawn about the resigning and the hiring taking place at one time which includes accusations of a negative action taken by Yang which lead to the placement. Yahoo has not yet commented as of whether or not Thompson will be “replacing” Yang. Keep in mind that Yang was one of the actual co-founders of Yahoo in 1995 with others including David Filo who still remains at Yahoo. As some would say, Yang’s time as Chief Executive at Yahoo from June 2007 – January 2009 was not the best Yahoo had seen. Once he was placed at that position Yahoo experienced a 64% drop in net income on top of 1,000+ job cuts in February 2008 so you could say he didn’t have a very good profile. Some would argue though that his worst decision was made in 2008 when a company would put in a bid at 44.6 Billion USD$ to buy Yahoo. Yang rejected the offer from Microsoft and I know I would definitely regret that.
Since Yang has left many other sources have been reporting that 4 other directors within Yahoo are looking to leave the company. Sounds like some people are cashing out at Yahoo.