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Wed 11 Nov 2008Yahoo up 17% as CEO steps down
SHARES in internet pioneer Yahoo jumped as much as 17 per cent yesterday following the US company’s announcement that chief executive Jerry Yang was to step down, paving the way for possible acquisition by Microsoft.
Mr Yang, who co-founded the Silicon Valley firm in 1994, will take up his former role as “Chief Yahoo” when a new chief executive is appointed and he will also retain a seat on the board.
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