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+-   Yahoo CEO Yang to step down-> on Monday November 17 2008, @08:25PM JagsLive

Submitted by JagsLive on Monday November 17 2008, @08:25PM
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JagsLive writes "Yahoo, under fierce financial pressure, has begun a search to replace company co-founder Jerry Yang as chief executive, the company said Monday.

"Jerry and the board have had an ongoing dialogue about succession timing, and we all agree that now is the right time to make the transition to a new CEO who can take the company to the next level," Chairman Roy Bostock said in a statement. "We are deeply grateful to Jerry for his many contributions as CEO over the past 18 months, and we are pleased that he plans to stay actively involved at Yahoo as a key executive and member of the Board."

Yang will resume his position as chief Yahoo, the company said, the role he had before taking over in 2007 after former CEO Terry Semel departed."
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