BREAKING NEWS: Yahoo Co-Founder Jerry Yang Resignation Announcement

On Tuesday, January 17, 2012 Yahoo! Inc announced that  that Jerry Yang has resigned from its Board of Directors and all other positions with the company, effective today. In addition, Yang resigned from the Boards of Yahoo Japan Corporation and Alibaba Group Holding Limited, effective today.

In a letter to the Yahoo! Board Chairman Roy Bostock, 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.”

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. “It has been a pleasure to work with Jerry. His unique strategic insights have been invaluable. He has always remained focused on the best interests of Yahoo!’s stakeholders, including shareholders, employees and more than 700 million users. And while I and the entire Board respect his decision, we will miss his remarkable perspective, vision and wise counsel. On behalf of the Board, we thank Jerry and wish him all the very best in his future endeavors.”

Bostock concluded, “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. “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. Jerry has great confidence in the future of Yahoo!, and I share his confidence in the enormous potential of Yahoo! in the days ahead.”

About Jerry Yang:
Jerry Yang is an Internet Entrepreneur, the co-founder and former CEO of Yahoo! Inc.

Early life

Born in Taipei, Taiwan on November 6, 1968, Yang moved to San Jose, California at the age of ten with his mother and younger brother. His father died when Yang was two. He claimed that despite his mother being an English teacher, he only knew one English word (shoe) on his arrival. Becoming fluent in three years, he was placed into an AP English class.

Yang graduated from Sierramont Middle School and Piedmont Hills High School. Yang went on to earn a Bachelor of Science and a Master of Science in electrical engineering from Stanford University, where he was a member of Phi Kappa Psi fraternity.

Career

While Yang studied in Electrical Engineering at Stanford, he co-created in April 1994 with David Filo an Internet website called “Jerry and Dave’s Guide to the World Wide Web” consisting of a directory of other websites. It was renamed “Yahoo!” (an exclamation). Yahoo! became very popular, and Yang and Filo realized the business potential and co-founded Yahoo! Inc. in April 1995. They took leaves of absence and postponed their doctoral programs indefinitely.

About Yahoo!:
Yahoo! is the premier digital media company, creating deeply personal digital experiences that keep more than half a billion people connected to what matters most to them, across devices and around the globe. And Yahoo!’s unique combination of Science + Art + Scale connects advertisers to the consumers who build their businesses. Yahoo! is headquartered in Sunnyvale, California. For more information, visit the pressroom (pressroom.yahoo.net) or the company’s blog, Yodel Anecdotal (yodel.yahoo.com).

Yahoo! is the trademark and/or registered trademark of Yahoo! Inc. All other names are trademarks and/or registered trademarks of their respective owners.

Source: Yahoo! Inc., Wikipedia & BUSINESS WIRE