Sayonara Jerry Yang, Yahoo Searches for New CEO

Image representing Jerry Yang as depicted in C...

Image via CrunchBase

Well, it was only a matter of time. Yahoo CEO Jerry Yang has "stepped down" from the CEO position he assumed 18 months ago.

From the official press release:

"Yahoo! Inc. (Nasdaq:YHOO) today announced that its Board of Directors has initiated a search for a new Chief Executive Officer. Jerry Yang, co-Founder of Yahoo!, has decided to return to his former role as Chief Yahoo! upon the appointment of his successor as CEO, and he will also continue to serve on the Board. Yang, 40, assumed the CEO role at the Board’s request in June 2007, and he has led Yahoo! through a strategic repositioning and transformation of its platform."

Whoever ends up with the job, let’s just hope it’s an outsider. Yahoo is being clear that they are considering internal candidates. President Sue Decker is likely being considered.

The best part, however, is the e-mail that Yang sent to Yahoo employees...

"…the fact remains that yahoo! is now a significantly different company that is stronger in many ways than it was just 18 months ago…"

Excuse me for just a second....but.....bwahahahaha! I think that the Yahoo shareholders (of which I am one) would have to disagree with that statement.

Sayonara, Jerry.

CrunchBase Information

Yahoo!

Jerry Yang

Information provided by CrunchBase