Washington (ECN) – Yahoo CEO Jerry Yang is stepping down from his post.
The company announced late Monday that Yang is going to step down as the CEO of Yahoo Inc.
The announcement came as Yahoo, the search giant, begins to search for a new leader.
Yang is the Yahoo co-founder and became CEO back in June of 2007.
The 40-year old is going to remain on the company board, and has been under a lot of pressure lately.
This comes after he was heavily involved in the potential deal between Microsoft and Yahoo where MS wanted to buy Yahoo for $45 billion.
Yang decided to reject the price of $33 per share, stating it was simply too low.
This could re-open the door for a brand new deal between the companies.