Jerry Yang, Co-Founder of Yahoo resigned from its board of directors. Moreover Mr. Yang also resigned from the Boards of Yahoo Japan Corporation and Alibaba group holdings Limited. This comes just two weeks after Yahoo hired former Paypal Executive Scott Thompson as the CEO. Yang wrote a letter to Yahoo Board chairman Roy Bostock,
Roy Bostock quoted,
" 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."
Roy Bostock quoted,
"Jerry Yang is a visionary and a pioneer, who has contributed enormously to Yahoo! during his many years of service.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"via Cnet
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