It's official: Yahoo! CEO will resign

Yahoo! co-founder and CEO Jerry Yang will resign his executive office as soon as he finds an appropriate replacement, Wall Street Journal informs, quoting sources close to the situation. Yahoo! confirmed the information soon after it was made public by the journal.

Click here to reads the official Yahoo! release

Yang’s resignation comes after a rather long period marked by tensions, Yahoo! rejecting the take-over proposal made by Microsoft. The software giant was refused even after offering 47.5 billion dollars, three time the market value of the company. The resignation announced by Yang may make the transaction possible, analysts comment.