Jerry Yang, Yahoo! co-founder calls it quits

It seems that Yahoo’s woes are not yet over. Yahoo! Co-founder Jerry Yang has resigned, the company announced Tuesday.

According to a statement released by the company, Yang relinquished all his positions including that he was holding on the Board of Directors for the Alibaba Group Holding limited and Yahoo! Japan.

In a letter written to Yahoo! Board Chairman Roy Bostoc by Yang, the long-serving Yahoo! Co-founder said that his time at the company since its inception had encompassed some of the most rewarding and exciting experiences in his life adding that time had come for him to pursue other interests outside the company.

Scott Thomson has been appointed as the new Yahoo! CEO and Yang said that he was enthusiastic about it adding that the Yahoo leadership teams would guide the company in to a successful and exciting future. Yahoo! was co-founded by David Filo and Yang in 2005. Yang served as the CEO   from June 2007 to January 2009.

Yahoo hired Scott Thomson, the former Palpal CEO just two weeks ago. It is remembered that in 2008, Yang blocked a bid by Microsoft to acquire Yahoo! at a cost of 47.5 billion U.S. dollars.

Recently, the former Yahoo CEO told major private equity firms he did not support a complete take over of the company. Some shareholders in Yahoo have been calling for Yang’s resignation. Yahoo has been dogged by leadership wrangles for some time now.