Resignation of Yahoo co-founder Jerry Yang

Jerry Yang, co-founder, director, chief executive and large shareholder of Yahoo, has resigned from the company he helped start in 1995. Yahoo has appointed Scott Thompson as its new CEO, hoping he will help the company to return to the heights it once enjoyed in the 1990s. The company is exploring how best to unload its prized Asian assets in a complex deal with Alibaba Group at an amount valued at roughly $17 billion. Jack Ma, founder of Alibaba is looking forward to continuing its relationship with Yahoo.