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Nov 17 2008   8:21PM GMT

Yang to exit Yahoo

badarrow Barbara Darrow Profile: badarrow

Jerry Yang, the bedeviled CEO of Yahoo, is leaving the company, reports AllThingsD, citing an internal email message from Yang to Yahoo employees. He outlasted expectations of many who saw the writing on the wall last May when Yang didn’t respond quickly enough to Microsoft’s enriched bid to buy Yahoo.

 Yang will remain on Yahoo’s board  and also resume his Chief Yahoo responsibilities, according to AllThingsD. Heidrick & Struggles has been retained to find the new CEO.

Ed’s Note: It’s official now. Here’s Yahoo’s statement on Yang’s departure.

New Ed’s Note, November 19: Real Dan Lyons was right to call out Swisher for claiming this as a bona fide scoop or, in Dan’s words: “EXCLUSIVE SCOOP on the BIGGEST STORY OF THE DAY!!!!!” seeing as how she got the press release minutes before it posted. Yes, that’s more like taking dictation than breaking a story. Mea culpa. Also note, the fact that Lyons also called out Yahoo’s PR staff as liars apparently got his blog “redacted” by the Newsweek bosses. Damn shame. Good thing the Industry Standard kept the goods online.

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