Yahoo co-founder Jerry Yang , who earned the ire of many shareholders for rejecting a 47$-billion takeover
offer from Microsoft,is stepping down as the CEO.The Sunnyvale,California,firm announced on Monday,that
Mr.Yang(40),who took over as CEO just over a year ago,would remain in the post until a replacement could
be found by the board of directors.
Mr.Yang founded the portal in 1995 at the age of 26 with Stanford University classmate David Filo.Mr.Yang
said it was time to turn Yahoo,whose share price has plunged during the past year over to a new leader.A
Proposed advertising partnership with internet search king Google fell through this month amid opposition
from U.S Justice Department antitrust regulators.
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