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Jerry Yang  (Source: withfriendship.com)
Yang has resigned from Yahoo's Board of Directors and also stepped down as a member of the boards of Yahoo Japan and Alibaba Group

Yahoo co-founder Jerry Yang officially resigned from Yahoo's Board of Directors and all other company-related positions today.

Yang co-founded Yahoo back in 1995 with David Filo. He has been a member of the Board of Directors since March 1995, and also served as chief executive officer from June 2007 to January 2009.

Now, Yang has resigned from Yahoo's Board of Directors and also stepped down as a member of the boards of Yahoo Japan and Alibaba Group.

"My time at Yahoo!, from its founding to the present, has encompassed some of the most exciting and rewarding experiences of my life," said Yang in his resignation letter to Yahoo Board Chairman Roy Bostock. "However, the time has come for me to pursue other interests outside of Yahoo! As I leave the company I co-founded nearly 17 years ago, I am enthusiastic about the appointment of Scott Thompson as Chief Executive Officer and his ability, along with the entire Yahoo! leadership team, to guide Yahoo! into an exciting and successful future."

Scott Thompson, who has been in charge of eBay's online payment system PayPal since 2008, was announced as Yahoo's new CEO two weeks ago. He is the replacement for former Yahoo CEO Carol Bartz, who led the Internet corporation from January 13, 2009 to September 6, 2011. She was fired last fall after a series of outbursts toward people like TechCrunch founder Michael Arrington, whom she told to "f*ck off" at TechCrunch Disrupt in New York City. Former Yahoo Chief Financial Officer Tim Morse was named interim CEO after Bartz was booted, and now Thompson is stepping in.

"I am grateful for the warm welcome and support Jerry provided me during my early days here," said Thompson. "Jerry leaves behind a legacy of innovation and customer focus for this iconic brand, having shaped our culture by fostering a spirit of innovation that began 17 years ago and continues to grow even stronger today. Jerry has great confidence in the future of Yahoo!, and I share his confidence in the enormous potential of Yahoo! in the days ahead."

Despite the company's praise for Yang, he was criticized by investors during his time as Yahoo CEO due to the way he handled a $44 billion takeover bid from Microsoft back in 2008. Yahoo ended up declining the bid, and the company took a beating during the global financial crisis leaving it with a market value of only $20 billion. Yang stepped down in late 2008.

Yahoo's shares were up almost 5 percent in after-hours trading Tuesday after the announcement of Yang's resignation.

Sources: Yahoo, Market Watch


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Company in its death throes yada yada
By augiem on 1/18/2012 2:22:15 AM , Rating: 4
Yahoo has gotten a raw deal. They're always being beaten down in the media. Their image is public totally shot at this point as is their valuation. The company made $1.23 billion in PROFIT in 2010 out of $6.3 billion revenue according to Wikipedia. Yes, that's a B. And higher than Amazon.com. They are currently #4 in Alexa ahead of Baidu, Wikipedia, Amazon, Twitter, QQ, Ebay, MSN, etc.

So sad the smokescreen of hype and emotion seems to shape the world today.




RE: Company in its death throes yada yada
By EricMartello on 1/18/2012 11:44:00 PM , Rating: 2
How much of that revenue was a result of Yahoo's US operations? Their stake in Alibaba is largely what was keeping them afloat.

They never were such a great search engine - they were more of a directory and their quality was a result of entries being human-edited and categorized somewhat like DMOZ. That which made their listings better in quality was also their achilles heel, because it drastically limited the content which was available within their index.


RE: Company in its death throes yada yada
By augiem on 1/19/2012 7:28:46 PM , Rating: 2
I don't know how much of their revenue comes from Alibaba or their own services. I couldn't find any data on that, but I'm not willing to just accept that off-the-cuff statement that that's largely what's keeping them afloat.

All you have to do is look at the traffic data I posted. #4 in world rankings means they get a lot of traffic regardless of how you feel about their search engine. Yahoo provides far more services than search. Eyeballs = advertising opportunities = money. Facebook? Why are they so rich if not for advertising?

Yahoo has to be doing something right to beat out all those sites I mentioned. It's not about the search engine.


By EricMartello on 1/20/2012 1:04:34 PM , Rating: 2
Actually if you look at Facebook from a traffic vs revenue perspective, they're not doing too well. They get almost double the traffic of Google but they're not getting double the revenues. It's difficult to monetize something like Facebook without coming across as spammy but they may be onto something with those flash games.

It's not just about sheer volume - quality and engagement plays a role in how much a site can generate from ad revenue. Porn sites get a ton of traffic, but since it's mainly guys fapping, it's generally worthless to pay for advertising on a porn site.


Worst search engine
By waryman on 1/17/12, Rating: 0
RE: Worst search engine
By wordsworm on 1/18/2012 4:26:36 AM , Rating: 4
How is Yahoo preventing you,or anyone else, from becoming the next founder of the latest and greatest search engine?

My.yahoo.com is still my homepage, and there it'll remain.


RE: Worst search engine
By priusone on 1/18/2012 10:21:50 PM , Rating: 2
Sadly, the bloat on their home screen, in my experience, has made it difficult for some newcomers to the internet. It took quite some time to break friends and family of their yahoo habits, but I'm just down to one holdout. And before anyone cries about the 'bloat' comment, yes, they have toned it down, but I still can't stand their search engine.


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