Yahoo! announces the resignation of Yahoo! co-founder Jerry Yang

Yahoo! Inc. have just announced that Yahoo! co-founder, Jerry Yang has resigned from its Board of Directors and all other positions within the company, effective today. Yang has also resigned from the Boards of Yahoo Japan Corporation and Alibaba Group Holding Limited, also, effective today.

In a latter Yang wrote to the Yahoo! Board Chairman, Roy Bostock, he said:

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.

Roy Bostock, Chairman of the Yahoo! Board says:

Jerry Yang is a visionary and a pioneer, who has contributed enormously to Yahoo! during his many years of service. 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. 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.