Nov. 17 (Bloomberg) -- Yahoo! Inc. Chief Executive Officer Jerry Yang will step down, following his failure to negotiate a takeover by Microsoft Corp. and broker an online advertising agreement with Google Inc.
Yahoo is searching for a new CEO, the company said today in a statement. Yang, 40, will continue to serve on the board. He took the top job at the 13-year-old Internet company in June 2007, promising to win back users and advertisers lost to market leader Google.