Yahoo (YHOO) co-founder Jerry Yang today resigned from the Internet company’s board of directors and all other positions at the company. He also resigned from the boards of Yahoo Japan and Alibaba Group.
In a statement, Yang said:
The move is likely to be cheered by many of Yang’s detractors, who probably wish the rest of Yahoo’s board of directors followed suit. What it raises, however, is a giant question as to whether or not Yahoo might revisit the idea of being acquired either by a rival (Microsoft?) or by private equity investors.
Not only was Yang cited as the stick that muddied up Microsoft’s (MSFT) attempt to buy Yahoo in 2008, but he also recently told possible private equity suitors that neither he nor other Yahoo board members would support a takeover attempt — killing off possible deals with firms like Bain Capital, The Blackstone Group (BX), Silver Lake Partners and TPG Capital.
Yahoo chairman Roy Bostock publicly reiterated the “not going private” position, but perhaps Yang’s departure could signal a softening. Again, all just speculation as the news is still very raw…
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