Jerry Yang the co-founder of Yahoo! Will step down as the chief executive of the internet giant, ending a 17-month long turbulent tenure which saw him rejecting a takeover bid from Microsoft . Yang decision to step down follows months of criticism from various quarters on a range of issues including his move to shun Microsoft 47.5 billion$ buyout offer.
However, the 40 year old Yang will return to his “former role as Yahoo! Chief”- the position for corporate strategy once the successor is appointed and will continue in the company board. Both internal and external candidates are being looked for replacing Yang.