It’s Official: Yang is Out

Jerry Yang is officially stepping down from his CEO position at Yahoo.
Yahoo’s official press release.
Once a new CEO is found, Yang will revert to his “Chief Yahoo” position and sit on the board of directors.
Excerpt from Yang’s memo to employees: despite the external environment we face, the fact remains that yahoo! is now a significantly different company that is stronger in many ways than it was just 18 months ago. this only makes it all the more essential that we manage this opportunity to leverage the progress up to this point as effectively as possible. i strongly believe that having transformed our platform and better aligned costs and revenues, we have a unique window for the right ceo to take ownership over the next wave of mission-critical decisions facing the company.
Full memo here.