San Francisco - Jerry Yang, who helped kick start the internet revolution in 1995 as co-founder of web portal Yahoo, is stepping down as the company's chief executive.
The announcement by the ailing internet giant came after months of falling revenue, fierce proxy battles and a series of botched negotiations that scuttled what now seems to have been an exceedingly generous buyout offer from Microsoft.
Yang's alternative plan - an ad alliance with Google - was scuttled last week after strenuous objections from antitrust regulators.
Yahoo co-founder, Jerry Yang, who took on the CEO role in June 2007 in an effort to turn the company around, will step down from his role as soon as the board finds a replacement. Under Yang, Yahoo talks for an acquisition by Microsoft Corp broke down; rival Google Inc pulled out of a deal to sell some ads on Yahoo; and the company’s shares have withered amid tough competition and a failing global economy. 
It's been almost a year since Yahoo Inc. has been searching for alternatives to Microsoft Corp's buyout offer. But recently Yahoo Inc.'s Chief Executive, Jerry Yang confirmed that he is still in favor of the deal between Yahoo! and Microsoft, as it can help Yahoo!, which currently is facing a lot of pressure. 
