8:07 PM
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CEO & Co-Founder Jerry Yang resignation effective from today(18.01.2012) onwards.
Yang, who started Yahoo in 1995 with David Filo, also left the boards of Yahoo Japan Corp. and Alibaba Group Holding Ltd., Asian Web companies Yahoo partly owns, Yahoo said today in a statement. It comes just two weeks after Yahoo Inc. hired former PayPal executive Scott Thompson as its CEO.
Jerry Yang Net Worth : $1.1 Billion (USD)
Jerry Yang, 43, recognized Thompson in his resignation from Yahoo's board of directors. He had been on Yahoo's board since the company's 1995 inception.
Jerry Yang is also stepping down from the boards of China's Alibaba Group and Yahoo Japan.
Yahoo's revenue has been falling in recent years even as advertisers have poured more money into the Internet. Much of the money, though, has been going to Internet search leader Google Inc. and Facebook's online social network, as Yahoo fell further behind in the race to come up with compelling new products.
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