More Yahoo boardroom resignations on way after co-founder Yang's exit
The exit of Yahoo co-founder Jerry Yang from the board of directors is just the beginning, and several boardroom resignations are on the way. People familiar with the matter have said that four other Yahoo directors plan to step down shortly.Updated: Jan 19, 2012 20:07 IST
The exit of Yahoo co-founder Jerry Yang from the board of directors is just the beginning, and several boardroom resignations are on the way, sources have revealed.
People familiar with the matter have told AllThingsDigital that four other Yahoo directors plan to step down shortly.
Sources said one major impetus for the Yahoo shake-up, other than the obvious need for a company makeover, was possible legal concerns related to attempts to attract investment from private-equity firms rather than sell the Internet giant.
According to News.com.au, the website earlier reported that Yang was mulling an exit, along with Chairman Roy Bostock and longtime board members Arthur Kern, Vyomesh Joshi and Gary Wilson.
AllThingsDigital said it was more a question of "when, rather than if" regarding Bostock's likely departure.
According to the report, Yang's decision to leave was made on his own accord, despite speculation that he was forced out.
The departure of Yang, who co-founded Yahoo with David Filo in Silicon Valley in 1995, comes less than a month after the company named former PayPal executive Scott Thompson as its chief executive.
First Published: Jan 19, 2012 15:40 IST