Yahoo boss steps down

Jerry Yang, the embattled chief executive of Yahoo, is quitting and his departure caused the internet company’s shares to shoot up. Yang will step down as soon as a replacement is found.
 
Analysts said this was a sign that Yahoo’s board of directors has become frustrated with his efforts to turn around the company.
 
Yang co-founded Yahoo and has been the top boss since the middle of last year. Some shareholders were unhappy after he rejected a takeover offer from Microsoft. Instead Yang went to rival Google, setting up a search engine advertising partnership which later unravelled.
  
There is now speculation that under a new chief executive, Yahoo’s could again approach Microsoft for a merger.

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