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Tuesday, November 18, 2008

Jerry Yang Quits Yahoo

Co-founder of Yahoo!, Jerry Yang, is stepping-down as CEO.

"I will always do what is best for this company," Yang told employees in an e-mail. He has faced growing criticism over his choices, including refusing to sell to Microsoft earlier this year at $33/share. Yahoo stock has dropped to about $10/share. Yang apparently made the decision to quit last month.

While no successor has been named, Yang will help hire one.

© C Harris Lynn, 2008

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