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Wednesday, November 19, 2008

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

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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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