Yahoo co-founder Jerry Yang resigns
Yahoo Inc co-founder Jerry Yang has quit the Internet company he started in 1995, appeasing shareholders who had blasted the Internet pioneer for pursuing an ineffective personal vision and impeding investment deals that may have transformed the struggling company.
Yang's abrupt departure comes two weeks after Yahoo appointed Scott Thompson its new CEO, with a mandate to return the once-leading Internet portal to the heights it enjoyed in the 1990s. Thompson is the fourth CEO in less than five years to try to turn around Yahoo. It's a daunting assignment that Yang was unable to pull off during his own tumultuous 18-month reign as the company's CEO in 2007 and 2008.