Yang's Exit From Yahoo May Remove Barrier to Asia Asset Sale |
| San Francisco Chronicle - Jan 18, 2012 |
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.
Now that co-founder Yang has cut leadership ties to Yahoo, newly appointed Chief Executive Officer Scott Thompson has freer rein to unwind the company's part-ownership of Alibaba Group Holding Ltd. and Yahoo Japan Corp. Yahoo is still pursuing the sale of the holdings, while also talking with private-equity firms about selling a minority stake in itself, a person with knowledge of the matter said. An Asian deal is more likely and may be concluded in the coming weeks, the person said.
Yahoo, the most popular U.S. Web portal, said yesterday that Yang, 43, is stepping down from the board of directors and its management. Yang also left the boards of Yahoo Japan and Alibaba Group, Yahoo said in a statement.
Read Full Article from San Francisco Chronicle
- Posted: 2012-01-18 12:55:12
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