Jerry Yang to step down as Yahoo CEO

Jerry Yang, co-founder of Yahoo, has decided to step down as the internet portal’s chief executive officer.

Yang has come in for a lot of criticism recently and Yahoo shares have dropped accordingly, now valued at around $10. Earlier this year, he fought off a hostile takeover bid by Microsoft, turning down a $33 per share offer.

Negotiations with Google on an advertising deal fell through earlier this month and only last week, Mr Yang surprised many by stating publicly that Microsoft should still buy Yahoo as he thinks it’s a good idea.

Yahoo are now busy looking for a replacement, and not necessarily from within the company itself.

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