Updated 5:11 p.m. PST with Yahoo announcement. Updated 5:21, 6:19 p.m., and 6:57 p.m. PST with further detail.
Yahoo, under fierce financial pressure, has begun a search to replace company co-founder Jerry Yang as chief executive, the company said Monday.
"Jerry and the board have had an ongoing dialogue about succession timing, and we all agree that now is the right time to make the transition to a new CEO who can take the company to the next level," Chairman Roy Bostock said in a statement. "We are deeply grateful … Read more