Yahoo Inc co-founder Jerry Yang has announced his sudden departure from the company, following the recent appointment of Scott Thompson as Yahoo CEO. Yang is severing all formal ties with the company and resigning all positions in the wake of criticism for his handling of company affairs dating back to an failed sale to Microsoft in 2008.
“Everyone is going to assume this means a deal is more likely with the Asia-counterparts,” said Macquarie analyst Ben Schacter. “The perception among shareholders was Jerry was more focused on trying to rebuild Yahoo than necessarily on maximizing near-term shareholder value. It certainly seems things are coming to a head as far as realizing the value of these assets.”
Source: csmonitor.com
