Dailybhaskar.com | Last Modified - Jan 18, 2012, 01:10 PM IST
Sunnyvale, California: Jerry Yang has resigned from Yahoo Inc, the beleaguered digital media company that he co-founded 17 years ago.
An official press release by digital media company yesterday informed that “Jerry Yang has resigned from its Board of Directors and all other positions with the company, effective today.”
Yang also quit from the boards of Yahoo Japan Corporation and Alibaba Group Holding Limited, effective Tuesday.
"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!”, yang wrote in a letter to the Yahoo Board Chairman Roy Bostock.
“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," he added.
Yang co-founded Yahoo! Inc. in 1995 with David Filo and served as a member of the Board of Directors since March 1995 and as Chief Executive Officer from June 2007 to January 2009. The Company went public in 1996.
"Jerry Yang is a visionary and a pioneer, who has contributed enormously to Yahoo! during his many years of service," said Roy Bostock, Chairman of the Yahoo! Board.
Bostock said, "We appreciate Jerry's comments and share his enthusiasm for the company's prospects. With Scott Thompson leading an outstanding team of Yahoos to deliver innovative products and an engaging customer experience, Yahoo!'s future is bright."
"I am grateful for the warm welcome and support Jerry provided me during my early days here," said Scott Thompson, Yahoo!'s Chief Executive Officer, adding, "Jerry leaves behind a legacy of innovation and customer focus for this iconic brand, having shaped our culture by fostering a spirit of innovation that began 17 years ago and continues to grow even stronger today.”