Yahoo said Jerry Yang will step down as chief executive as soon as
the board finds a replacement.

The news sent Yahoo shares on hopes the departure would clear the way for a
deal with Microsoft, while one-third owned Yahoo Japan eased.

Reuters -
Yahoo said Jerry Yang will step down as chief executive as soon as the
board finds a replacement.

The news sent Yahoo shares on hopes the departure would clear the way for a
deal with Microsoft, while one-third owned Yahoo Japan eased.

Yahoo said late Monday Jerry Yang will step down as chief executive as soon
as the board finds a replacement.

Yang -- who will return to his former role as Chief Yahoo, focusing on
strategy and technology -- tried to carve an independent strategy for Yahoo
and was blamed when Microsoft
walked away from an offer to buy Yahoo earlier this year.

Microsoft withdrew its $47.5 billion buyout offer in May after Yahoo
rejected the sweetened bid.

Rival Google abandoned a search advertising partnership amid regulatory
concerns, while months-long discussions with Time Warner about combining with
its AOL unit also failed to produce a deal.

Yang faced a growing chorus of criticism from investors and analysts as
Yahoo's shares nosedived.

Dan Sloan reports.