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Wednesday, November 19, 2008

Yang’s done heading Yahoo, will turn Chief Yahoo again

Jerry Yang, the chief executive of Yahoo Inc, will step down from his role as soon as the board finds a replacement for the Internet company, Yahoo said on Monday .

Yahoo co-founder Yang, who took on the CEO role in June 2007 in an effort to turn the company around, will return to his former role as Chief Yahoo once a successor has been found.

“From founding this company to guiding its growth into a trusted global brand that is indispensable to millions of people, I have always sought to do what is best for our franchise,” Yang said in a statement.

Yahoo has hired Heidrick & Struggles, the executive search firm, to look for both internal and external candidates.

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