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Jerry Yang Steps Down as Yahoo! CEO, Remains Chief Yahoo!

by Terrence O'Brien on November 18, 2008 at 08:45 AM


Jerry Yang, co-founder of Yahoo! is stepping down from his post as CEO and returning to his job as Chief Yahoo!... whatever that means.

Yang was tapped by the board of directors last year to step in at the helm of the floundering company as part of a massive reorganization. Yang and the board both feel that the time is right to find a successor. Yahoo! is in a much better position than it was 18 months ago. The company has cut products, like the Yahoo! Music, that were hemorrhaging cash, while launching Yahoo! Buzz and updating profitable services like Flickr and Delicious. That said, the company is still the target of buyout rumors, thanks to its continued loss of market share to Google's search product.

Yang sent out a memo to "all Yahoos" explaining the reason for his resignation and his future at the company (read the entire memo here), complete with his characteristic lack of capitalization. He also took time to praise his employees saying, "thanks in large measure to your tireless efforts, we have created a more open, competitive yahoo!"

Yang will certainly continue to influence the company in his new/old role as Chief Yahoo!, and one can only hope that more positions with ridiculous titles are to come from this Internet pioneer. [From: BoomTown]

Tags: business, expire-images2009-11-18, jerry yang, JerryYang, yahoo

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