Yahoo! Inc. (NASDAQ: YHOO) announced that Jerry Yang has resigned from its 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. Yang stated that the time has come for him to pursue other interests outside of Yahoo!
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.
Perhaps the road is now open for an arrangement with Alibaba. Jerry Yang’s departure will give Scott Thompson, the new CEO, much needed flexibility.