After the long period of criticism related to Microsoft's withdrawl of merger and acquisition proposal , Jerry Yang, CEO and co-founder for Yahoo has planned to step down from the firm.

The related sources indicated that as soon as Yahoo will get a new perfect fit for the post, Jerry Yang will leave the venture. Jerry Yang’s tenure with Yahoo has seen the worst of company. The share prices of the company touching to the lowest $10, Microsoft pulling its two proposals to get linked with online search giant, and last but not the least- Google pulling off its ad pact which was considered as a saviour for Yahoo as could flood in huge funds. The funds are the critical need of Yahoo at this time.

After the news of departure, Yahoo shares rose by 4%, cited market reports. To get rid of Jerry Yang was the long time wish of billionaire investor, Carl Icahn, since the times Yang turned off the Microsoft bid. The analysts expect that after Jerry’s departure, Microsoft can reinstate the deal and once again consider the acquisition of search part or merger deal.

Yahoo co-founder, Jerry Yang took on the CEO role in June 2007 in an effort to make the company more competitive and turn around the then position. After the right successor is found, Jerry Yang will return to his former role as Chief Yahoo.

Renu Singh/ITVoir Network