Friday 24 November 2017

Yahoo founder quits

Yahoo co-founder Jerry Yang is leaving the struggling internet company as it tries to revive its revenue growth and win over disgruntled shareholders under a new leader.

The surprise departure comes just two weeks after Yahoo hired former PayPal executive Scott Thompson as its chief executive.

Mr Thompson is the fourth CEO in less than five years to try to turn around Yahoo -- a challenge Mr Yang was unable to pull off during his own tumultuous 18-month reign as the company's CEO in 2007 and 2008.

Mr Yang (43) endorsed Mr Thompson in his resignation from Yahoo's board of directors. He had been on Yahoo's board since the company's 1995 inception.

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