Jerry Yang leaves Yahoo

Yang resigned from all his posts at Yahoo (See video below)

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After the board fired Bartz last September, rumors swirled that Yang was trying to put together a group of investors to buy back the company and take it private.

Although it's still not clear whether Yahoo will remain in its current form, be taken private or be sold whole or in parts, the board last week picked PayPal's Thompson as the permanent replacement for Bartz, a move viewed by some as an attempt to stabilize the company after months of uncertainty.

In Tuesday's statement, Bostock called Yang "a visionary and a pioneer" who has provided "unique strategic insights" to the board. "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," Bostock said.

Meanwhile, Thompson said Yang gave him a "warm welcome" and that he leaves "a legacy of innovation and customer focus for this iconic brand."

As Thompson begins his tenure, Yahoo is viewed as a financially underperforming company that has lost its technology edge, resorting mainly to latching on to hot trends established by others, such as Google, Facebook, Twitter and Apple.

Juan Carlos Perez covers search, social media, online advertising, e-commerce, web application development, enterprise cloud collaboration suites and general technology breaking news for The IDG News Service. Follow Juan on Twitter at @JuanCPerezIDG.

Copyright © 2012 IDG Communications, Inc.

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