Yahoo has announced that co-founder and former CEO Jerry Yang has resigned from its Board of Directors. Yang has also resigned from all other positions with the company, specifically from the boards of Yahoo Japan and Alibaba. The resignation is effective today and sees Yang leaving the company he co-founded nearly 17 years ago.
Yang co-founded Yahoo with David Dilo back in 1995 and has since been on the board and has also served as CEO from 2007 to 2009. The company fired Carol Bartz from the CEO post last September, replacing her with Yang and most recently inserting former PayPal president Scott Thompson as CEO.
In a letter to Roy Bostock, Yahoo's Chairman of the board, Yang wrote:
"My time at Yahoo!, from its founding to the present, has encompassed some of the most exciting and rewarding experiences of my life. However, 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."