Jerry Yang

Yahoo Co-Founder Jerry Yang has announced that he is resigning from all of his roles at Yahoo, Yahoo Japan and Alibaba effectively immediately.

In a letter to Yahoo's Chairmen of the Board, Yang summed up some of his tenure with the company and what the future holds for it:

My time at Yahoo!, from its founding to the present, has encompassed some of the most exciting and rewarding experiences of my life. However, the time has come for me to pursue other interests outside of Yahoo! As I leave the company I co-founded nearly 17 years ago, I am enthusiastic about the appointment of Scott Thompson as Chief Executive Officer and his ability, along with the entire Yahoo! leadership team, to guide Yahoo! into an exciting and successful future.

When it was first announced that former Pay Pal president Scott Thompson was joining as the new CEO, there was no indication that Yang was completely leaving the company he helped to found, but it appears that is indeed the case and he is on his way out the door.

According to sources that spoke with AllThingsD, Yang may not be the only departure the company sees this week with four other board members rumored to be following close behind him.  When you add in the recent rumors that Alibaba is looking to buy the company out, it's beginning to look more and more likely that things are finally on the move with this company.  The only question is in what direction it will take them.

What do you think about the departure of Jerry Yang from Yahoo?