Jerry Yang, was the co-founder of the once great, and ‘hanging’ in there Yahoo. When the dot.com bubble hit in the late 90’s, Yahoo was there to get kick started, and would dominate the market. That is until that pesky Google showed up and ruined the show for them.

Fast forward to now and Yahoo is looking like a fighter that’s on his final legs. Jerry Yang, the once great co-founder of Yahoo is now stepping down from his CEO position. He’ll be around, taking a seat as chairman on the board.

It’s obvious to see why Yang has stepped down. After the overall performance of Yahoo in the numbers department the past year, it was time for new leadership. Of course Yang’s dealings with Microsoft was the huge debacle. At one point Microsoft was offering to buyout Yahoo at $33/share, and Yahoo is now sitting at around $10/share.

Yang had this to say about his resigning from Yahoo, “From founding this company to guiding its growth into a trusted global brand that is indispensible to millions of people, I have always sought to do what is best for our franchise. When the board asked me to become CEO and lead the transformation of the company, I did so because it was important to re-envision the business for a different era to drive more effective growth. Having set Yahoo on a new, more open path, the time is right for me to transition the CEO role and our global talent to a new leader. I will continue to focus on global strategy and to do everything I can to help Yahoo realize its full potential and enhance its leading culture of technology and product excellence and innovation.”

The coming weeks will be quite exciting indeed. Unless you’re a Yahoo employee, then it’s more tumultuous than exciting.

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