Yahoo co-founder resigns

Jerry Yang, one of the two entrepreneurs that created Yahoo, has resigned from the company’s board of directors.

He co-founded the firm with David Filo in 1995 and has been on the board of directors since March of that year.

He was Yahoo’s CEO from June 2007 to January 2009, and replaced by Carol Bartz, who was sacked back in September. Bartz was replaced earlier this month by former PayPal president Scott Thompson.

Wired reports that Yang has been under pressure from investors to depart following disagreements about how bids for shares of Yahoo were handled.

"My time at Yahoo, from its founding to the present, has encompassed some of the most exciting and rewarding experiences of my life," said Yang.

"However, the time has come for me to pursue other interests outside of Yahoo. As I leave the company I co-founded nearly 17 years ago, I am enthusiastic about the appointment of Scott Thompson as CEO and his ability, along with the entire Yahoo leadership team to guide Yahoo into an exciting and successful future."