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Yahoo! CEO Jerry Yang Stepping Down

Battered and apparently beaten from fending off Microsoft's buyout bids during the Microhoo! fiasco we've been chronicling here on Homotron in the past year, Jerry Yang, CEO of Yahoo!, has announced that he'll be stepping down from his position as soon as they find a replacement.

Jerry will remain at Yahoo! as "Chief Yahoo!" (huh?!) and a member of the board of directors.

Since taking over the reins of Yahoo! in June 2007, Yang saw takeover attempts from Microsoft that offered $33/share (Yahoo! is currently trading at $11.39), which he staunchly rejected, a proxy takeover attempt by Carl Icahn, and a possible partnership in search advertising with Google crumble under monopoly regulation fears.

It's not been a good year for Yang, and I certainly don't blame him for stepping down.

Yahoo CEO Jerry Yang frees himself up for the future [Ars Technica]