Yahoo co-founder Jerry Yang quits

London, Jan 18 (ANI): Yahoo co-founder Jerry Yang has quit the company, the latest dramatic change at the embattled Internet firm, raising hopes that it might be sold or split up.

The departure of Yang, who co-founded Yahoo with David Filo in Silicon Valley in 1995, comes less than a month after the company named former PayPal executive Scott Thompson as its chief executive.

Yang served as chief executive between June 2007 and early 2009, and owned just over 3.5pc of the company's shares, and is believed to wield considerable influence at the firm.

According to The Telegraph, until his resignation, Yang also held the title of "Chief Yahoo".

"My time at Yahoo, from its founding to the present, has encompassed some of the most exciting and rewarding experiences of my life," Yang said yesterday.

Yahoo is facing intense pressure from shareholders to find a strategy that will revive the fortunes of the company that once dominated the internet.

Although the company's homepage remains one of the most visited pages on the Internet, Yahoo has failed to develop a compelling social network or keep pace with the increasing number of people who access the Internet on mobile devices. (ANI)