By Telecom Lead Team:
Yahoo! announced that Jerry Yang has resigned from its Board of Directors and
all other positions with the company.
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.
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.”
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.
Yang’s 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.
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,” said Scott Thompson,
Yahoo!’s Chief Executive Officer.
