Jerry Yang, until now the CEO of Yahoo, has resigned from his position. Leaving the top job at the Internet giant due to management issues, the 40 year old will continue to serve on the company’s board. His resignation has fuelled new speculation about Microsoft’s takeover prospects.
Under criticism for scuttling Microsoft’s failed takeover of the company, Yang was often held responsible by Yahoo shareholders for falling share prices. Earlier, Microsoft had attempted to buy Yahoo for more than 40 billion US dollars. However, Jerry Yang had opposed the deal, a decision that many observers feel has since proved detrimental to Yahoo’s financial interests.