Jerry Yang, co-founder of Yahoo has announced his decision to step down from his position as chief executive officer as soon as a replacement has been appointed.Yang's departure comes after less than 18 months at the helm. Over the past few months, Yang drew intense criticism from shareholders for failing to agree an acquisition by Microsoft early this year.
Since then, Yahoo's fortunes have continued to deteriorate. A planned search deal with Google, its best hope of getting a quick boost, fell apart after regulators objected, and the company's shares have slumped as its core display advertising market has deteriorated.
So, where did Yahoo actually go wrong?
But many of its firsts have not panned out -- Yahoo was early among major companies to seize on the social network trend popularised by MySpace and Facebook, in which Web users share messages, photos and videos with select friends. But it remained too wedded to a decade-old idea of being a one-stop Web portal to embrace the new wave.Promised changes, from new Web search advertising technology to do battle with rival Google Inc to the hiring of Yahoo co-founder Jerry Yang as CEO, have failed to yield any promising changes.
