Yahoo has announced that CEO Jerry Yang will be stepping down from the position following the appointment of a successor according to a Yahoo press release. The move follows the recent cancellation of Yahoo’s proposed search advertising partnership with Google and a drop in Yahoo’s stock price. Yang, who had been the CEO since taking over for Terry Semel in June of 2007, will return to his old position of Chief Yahoo. Yahoo Chairman Roy Bostock said in the press release that the company is looking for a CEO “who can take the company to the next level.” The New York Times reports that among the possible successors are “Susan L. Decker, Yahoo’s president; Daniel L. Rosensweig, the former chief operating officer of Yahoo who is now a principal at the investment firm Quadrangle Group; and Jonathan F. Miller, the former head of AOL.”
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