Only two weeks after Yahoo hired Scott Thompson as its new CEO, co-founder Jerry Yang has made the decision to leave the company.    Yahoo hired Thomson as its fourth CEO in the last five years to improve the company’s fortunes.    “My time at Yahoo, from its founding to the present, has encompassed some of the most exciting and rewarding experiences of my life," Yang wrote to Yahoo Chairman Roy Bostock. "However, the time has come for me to pursue other interests outside of Yahoo."  Yang began the company with David Filo while they were both students at Stanford University.   His current net worth is valued at about $1.1 billion according to Forbes magazine.

Yang raised the ire of Yahoo stockholders as he opposed a proposed buyout by Microsoft Corporation valued at $47.5 billion or about $33 per share in May 2008.  Since that time Yahoo stock has hovered at less than $20 for the more than three years. Yang is stepping down from the board of directors and is giving up his position as “Chief Yahoo” an honorary title which allowed him to keep in touch with various projects within the company. Industry experts speculate that his departure will make it easier for changes to be made within the company as it tries to regain its momentum in the fast change technology sector that it plays. Yahoo is currently exploring selling its share of Alibaba in China and Yahoo Japan, which could together yield as much as $17 billion, if it can clear some obstacles.   Although Yahoo has lost some of its luster as it has been eclipsed by competitors, however the company still claims a worldwide audience of over 700 million people. 

Related Link:

http://news.yahoo.com/yahoo-co-founder-jerry-yang-leaving-company-220652426.html