Jerry
Yang has resigned from the Yahoo 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.”
Jerry
Yang has resigned from the Yahoo 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. 