Things haven’t been going smoothly at digital media company Yahoo! in recent times, as the firm announced some sweeping changes to its leadership structure late last year. The web search firm then concluded a couple of confidentiality agreements with prospective buyers, including Microsoft, giving these companies a more informed view of its business operations.

Now, Yahoo! has announced that co-founder Jerry Yang has resigned from its Board of Directors (BoD) and all other positions he holds within the company. In addition, Yang has also resigned from the Boards of Yahoo! Japan as well as Alibaba Group Holding.

In a letter to the Yahoo! Board chairman Roy Bostock, Yang wrote: “My time at Yahoo!, from its founding to the present, has encompassed some of the most exciting and rewarding experiences of my life.”

“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 chief executive officer and his ability, along with the entire Yahoo! leadership team, to guide Yahoo! into an exciting and successful future.”

Yang co-founded Yahoo! in 1995 along with David Filo and served as a member of the BoD since March 1995 as well as CEO from June 2007 up until January 2009.

“Jerry Yang is a visionary and a pioneer, who has contributed enormously to Yahoo! during his many years of service," Bostock stated.

“It has been a pleasure to work with Jerry. His unique strategic insights have been invaluable. He has always remained focused on the best interests of Yahoo!'s stakeholders, including shareholders, employees and more than 700 million users. And while I and the entire Board respect his decision, we will miss his remarkable perspective, vision and wise counsel. On behalf of the Board, we thank Jerry and wish him all the very best in his future endeavors.”

 

In related news Yahoo! signed a definite agreement late last year to acquire online advertising company interclick.