Yahoo announced on Monday (17/11) that “co-founder” Jerry Yang, who rejected the bid from Microsoft to develop early this year, executives resign as head of the company in the Internet pioneer.
“Jerry and the Council are talking about the succession, and we all agree that now is the right time to make the transition to a new CEO who can bring the company to the next level,” said Yahoo chairman Roy Bostock.
“We are very grateful to Jerry for a large contribution as CEO for 18 months, and we are pleased that he plans to remain actively involved in Yahoo as the main executive and members of the Board,” he added in a statement.
Yahoo says Yang (40), will resign immediately after the board of directors to find a new executive head. Yang says that now is the time to submit to the company, the price of the shares fell down in the last year to the new leader.
“From this company to establish direct growth into a global brand that is not trusted by millions of people neglected, I am always trying to do what is best for our franchise,” said in a statement that.
“When I ask the Board to become CEO and lead the transformation of the Company, I agree because it is important to dream again in the business a different era to encourage growth that is more effective,” he said.
“After a set point in the new Yahoo a more open, right time for me to switch positions and CEO of global talents to our new leaders,” he said.
“I will continue to focus on global strategy and do anything I can do to help Yahoo realize the full potential and improve the culture in the main areas of technology and product excellence and innovation.”
The rejection of the bid by Microsoft develop worth 33 U.S. dollars per share at the beginning of this year in accordance with the rejection by some shareholders that the company’s California. Since Yahoo is trading around 10-12 U.S. dollars per share.
The heads of executive departments receive the company in June 2007. Yahoo said the company is looking for both internal and external candidates and is considering Heidrick & Struggles, an international executive search company famous, to help the process.
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