Jerry Yang, who co-founded search engine Yahoo! in 1995 with David Filo, has officially resigned from the Board of Directors and all other positions at the company.
The search engine’s new CEO Scott Thompson commented on the news, “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.”
The future of Yahoo!
Yang has stated he has great confidence in the future of Yahoo! and his reason for leaving is to pursue other interests outside of the company.
Yahoo! has faced some struggles over the last ten years including losing its top search position to Google, rejecting a generous takeover by Microsoft and failing to develop a compelling social network.
A difficult path ahead
Yahoo! still has a difficult path to navigate as the company tries to extract more value from its most valuable assets and rebuild its core internet operations.
p>Its homepage still remains one of the most visited pages on the internet and if Thompson can find a strategy that revives the fortunes of a company that once dominated the internet, Yahoo! will have a bright future.