The co-founder of Yahoo, Jerry Yang is likely to step down from the post of the chief executive of the internet company.  Jerry Yang took the responsibility of Yahoo by replacing Terry Semel. He served as the chief executive officer of the company for around one and half year. According to a statement issued to media, Yahoo Inc said that Yang will step down for his current post after the company finds a replacement. However, Yang will serve as the chief of Yahoo.

 

Jerry Yang and his classmate David Filo were instrumental in the establishment of the internet portal Yahoo. After Yahoo started its operation in the market, Yang earned huge profit and became a billionaire overnight. Taiwan-born Yahoo CEO completed his electrical engineering at Stanford University in California. He met his friend Filo in the same university and they created a directory for websites in their spare time called 'Jerry's Guide to the World Wide Web'.

 

During his tenure as the CEO of Yahoo, the company suffered huge set back as it could not carry forward the advertisement deal with Google. Yahoo also rejected Microsoft's $47.5 billion takeover offer to tie up with Google. Commenting on the Jery's step down, an official source informed that Jerry Yang will remain on the company’s board and work with independent directors and the chairman to appoint a new chief executive. Forbes magazine has listed Jerry Yang as the 524th richest person in the world with net worth of 2.23 billion dollars.