EXCITABLE SEARCH OUTFIT Yahoo has lost its co-founder and former CEO Jerry Yang.
Yang has resigned from the web portal that is a shadow of its former self and is leaving to pursue other things. He has resigned from all his roles at the firm, including seats on the boards of directors in the US and Japan and at the Alibaba Group Holding company.
"My time at Yahoo, from its founding to the present, has encompassed some of the most exciting and rewarding experiences of my life. However, the time has come for me to pursue other interests outside of Yahoo," he wrote in his letter of resignation.
"As I leave the company I co-founded nearly 17 years ago, I am enthusiastic about the appointment of Scott Thompson as Chief Executive Officer and his ability, along with the entire Yahoo leadership team, to guide Yahoo into an exciting and successful future."
Typically his departure has been smoothed with some soothing goodbyes from the rest of his firm, although they seem a bit more interested in their own business than their co-founder's plans.
"Jerry Yang is a visionary and a pioneer, who has contributed enormously to Yahoo during his many years of service," said Roy Bostock, chairman of the Yahoo board.
"It has been a pleasure to work with Jerry. His unique strategic insights have been invaluable. We appreciate Jerry's comments and share his enthusiasm for the company's prospects. With Scott Thompson leading an outstanding team of Yahoos to deliver innovative products and an engaging customer experience, Yahoo's future is bright."
"I am grateful for the warm welcome and support Jerry provided me during my early days here," added Scott Thompson, Yahoo's CEO. "Jerry has great confidence in the future of Yahoo, and I share his confidence in the enormous potential of Yahoo in the days ahead."
There may be a good reason why the board is talking about what this means for Yahoo in such positive terms, as in recent times Yang has proved himself to be a bit of a bother at the firm, and was at one time thought to have been working on a takeover.
He also famously rebuffed Microsoft's offer to buy Yahoo for $33 a share, which is probably what he will be most remembered for. The company's share price is less than half that today. µ
Plus the cost of ambition as moonshots eat into the coffers
Spoiler alert: it's probably VeriSign
Did we say cuts off? We meant traps them inside their own home