After an 18-month run as CEO, Yahoo co-founder Jerry Yang announced on Tuesday that he was leaving the company. The iconic Internet site has struggled for a decade to catch up to the Internet search leader Google Inc., a company Yang encouraged and gave advice to. Yahoo’s current CEO is former PayPal executive Scott Thompson. This is the fourth CEO within the last five years who has been hired to turn the company around.
Yang said, “My time at Yahoo, from its founding to the present, has encompassed some of the most exciting and rewarding experiences of my life, however, the time has come for me to pursue other interests outside of Yahoo.” According to Forbes magazine, since Yang began working on Yahoo in a trailer at Stanford University, his net worth has grown to about $1.1 billion.
