Jerry Yang’s exit from Yahoo! Inc. removes one of the last vestiges of a management team chided by investors for failing to find a buyer or negotiate a sale of stakes in Asian assets worth more than $10 billion.
Jerry Yang is exiting the Yahoo! Inc. board and its management team, the latest casualty of an overhaul that led to the ouster of Chief Executive Officer Carol Bartz and left the company in search of strategic options.
The online world opened to billionaire Jack Ma, founder of Alibaba Group Holding Ltd., on his first trip to the U.S. in 1995. While visiting a friend in Seattle who showed him the Internet, Ma typed the word “beer” and couldn’t find any Chinese information. He decided to fix it.
Lenovo Group Ltd., the world’s second-biggest maker of personal computers, said Yahoo! Inc. co- founder Jerry Yang will join the board of directors as an observer amid its expansion into smartphones and tablets.