Co-founder Jerry Yang is to step down from all roles at Yahoo! and leave the business together, the firm has announced in a press release.Yang, who had previously stepped down as the troubled company's chief executive, founded the firm with David Filo in 1995 and has been an ever present as they first dominated web search and then struggled year after year to keep up with Google - a challenge they have summarily failed to overcome.
In his resignation letter to Yahoo!'s board chairman he said:
"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."Yahoo's shares are currently down 5 cents on the back of the news.
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