Yahoo co-founder Yang resigns

San Francisco: Yahoo Inc co-founder Jerry Yang has quit the Internet company he started in 1995, appeasing shareholders who had blasted the Internet pioneer for pursuing an ineffective personal vision and impeding investment deals that may have transformed the struggling company.

Yang's abrupt departure comes two weeks after Yahoo appointed Scott Thompson its new CEO, with a mandate to return the once-leading Internet portal to the heights it enjoyed in the 1990s.

Wall Street views the exit of "Chief Yahoo" Yang as smoothing the way for a major infusion of cash from private equity, or a deal to sell off much of its 40-percent slice of China's Alibaba, unlocking value for shareholders. Read More