Photo credit — Julie Blaustein
Yahoo announced today the resignation of cofounder and CEO Jerry Yang. Yang’s resignation extends to all other positions he holds that are Yahoo-related — that includes Yahoo Japan Corp. and Alibaba Group Holdings — and it’s effective immediately.
The announcement details and Yahoo’s official statement are at http://investor.yahoo.net/releasedetail.cfm?ReleaseID=640322
After the news of Yang’s exit, Yahoo’s stuck flew up five percent. Typically, Wall Street reacts well to change — especially at the upper echelons of a troubled company.
Yang founded the company with David Filo in January, 1994, initially as a Web portal and directory of sites. They originally named the site “Jerry and David’s Guide to the World Wide Web” but changed it to Yahoo, an acronym for “Yet Another Hierarchical Officious Oracle.”
SEO expert Danny Sullivan.
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