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Jerry Yang steps down as CEO, search ensues

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Will Yahoo be able to turn the tables now? Jerry Yang, co-founder of Yahoo and CEO since June 2007 has decided to step down from his duty of CEO-manship. However, he revealed that he will retain the former role of Chief Yahoo! and will also sit on the Board of Directors.

Yang had been heavily criticized for screwing up the Microsoft deal and this move could be a result of that. Yahoo has appointed Heidrick & Struggles to search for the potential candidate and the chairman Roy Bostock along with some directors and Jerry Yang are finalizing the assessing potential ones for final consideration.

Press Release

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