The company added that Yang had resigned from “all other positions within the company”, including the company’s subsidiaries in Asia.
In a letter to the Yahoo! board chairman Roy Bostock, Yang wrote:
“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.”
He co-founded Yahoo! with David Filo in 1995 and has sat on the board directors since. Yang served as the company’s chief executive from June 2007 to January 2009, during which he rebuffed Microsoft’s proposed $47.5 billion takeover offer in 2008.
The departure comes just two weeks after Yahoo! hired former Paypal boss, Scott Thompson as its CEO to assess whether the company should dispose of assets or make further investments.