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Yahoo co-founder Jerry Yang quits the company.

Jerry YangSan Francisco: Yahoo Inc co-founder Jerry Yang has quit the internet company, according to the reports.

He started in 1995, appeasing shareholders, who had been annoying the Internet pioneer for follows a futile personal vision and hampers investment deals that may have transformed the struggling company.

Yahoo appointed Scott Thompson it’s fresh CEO, with consent to return the once-leading Internet portal to the heights it enjoyed in the 1990s.

According to the reports, the exit of “Chief Yahoo” Yang as smoothing the way for a foremost infusion of cash from private equity, or a deal to sell off much of its 40-per cent slice of China’s Alibaba, undo a value for shareholders.

Yang’s exit comes about a month before rebel shareholders can nominate rival directors to Yahoo’s board.

The remaining nine members of Yahoo’s board, which comprises Hewlett-Packard executive Vyomesh Joshi and private investor Gary Wilson, are all up for re-election this year. Shares of Yahoo gained 3 per cent in after-hours trade, the reports said.


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