Yahoo has announced that co-founder Jerry Yang has resigned from its Board of Directors and all other positions with the company, effective as of today.
Although not coming as a huge surprise after the recent appointment of Scott Thompson as CEO earlier this month, Yang leaves the company on reasonable terms, writing in a letter to the board that
“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! 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.”
Yahoo Chairman Roy Bostock said in a statement that “Jerry Yang is a visionary and a pioneer, who has contributed enormously to Yahoo! during his many years of service,” and that “It has been a pleasure to work with Jerry. His unique strategic insights have been invaluable. He has always remained focused on the best interests of Yahoo!’s stakeholders, including shareholders, employees and more than 700 million users. And while I and the entire Board respect his decision, we will miss his remarkable perspective, vision and wise counsel. On behalf of the Board, we thank Jerry and wish him all the very best in his future endeavors.”
There’s no word yet on what Yang will do next, but after sixteen years at the company, he deserves a well earned break from corporate life.