Cofounder of Yahoo Jerry Yang has decided to leave the company after 17 years aboard. Yang said that he is resigning from the Yahoo board, as well boards of Yahoo Japan Corp. and Alibaba Group Holding Ltd.
Yang had to cope with criticism over his many posts in the company lately. Namely, Yang is cofounder, director, former chief exec and a significant shareholder. Certain investors are said to have questioned whether Yang was in conflict of interest while Yahoo was looking for a shopper.
Following the firing of former CEO Carol Bartz, Yahoo appointed a new one in Scott Thompson. Yang simply said that it was time to “pursue other interests outside Yahoo”. Yahoo had no additional information to reveal.
Rumor has it that Yang’s departure is only the first in what will be mass departure of Yahoo board members. Allegedly, another four directors may also follow Yang out, with main candidates being chairman Roy Bostock, Arthur Kern, Vyomesh Joshi and Gary Wilson.