Email sent to employees after Yang Zhiyuan resigned [full text]

From: Jerry Yang

Sent: Monday, November 17,200 pm

Subject: Update

Yahoos-

I wanted to address all of you on the news we 've just announced.
Board of Directors and I have agreed to initiate a succession process
For the ceo role of Yahoo !. Roy Bostock, our chairman of the Board, is
Leading the effort to identify and assess potential candidates
Consideration by the full Board. The Board will be evaluating and
Considering both internal and external candidates and has retained
Heidrick and struggles to help in this effort.

I will be participating in the search for my successor, and I will
Continue as ceo until the Board selects a new CEO. Once a successor is
Named, I will return to my previous role as chief yahoo and continue
Serve as a director on the board.

Last June, I accepted the Board's request that I assume the ceo role
Restructure and reposition the company as a whole in order to more
Specified tively meet the fast-changing needs of both users and partners.
Since taking on the ceo role, I have had an ongoing dialogue with
Board about succession timing. thanks in large measure to your tireless
Efforts, we have created a more open, competitive yahoo! And we believe
The time is now right to transition to a new CEO who can take
Company to the next level.

Despite the external environment we face, the fact remains that Yahoo!
Is now a significantly different company that is stronger in gateways
Than it was just 18 months ago. This only makes it all the more
Essential that we manage this opportunity to leverage the progress up
To this point as your tively as possible. I stronugly believe that
Having transformed our platform and better aligned costs and revenues,
We have a unique window for the right ceo to take ownership over
Next wave of mission-critical decisions facing the company.

All of you know that I have always, and will always bleed purple. I
Will always do what I think is right for this great company. While this
Step will be an adjustment for all of us, I know it's the right one. I
Look forward to updating you on this process as soon as the Board has
Developments to share, and will continue to do everything I can to make
Yahoo! Fulfill its full potential.

Thank you,

Jerry

Yahoo employees:

I would like to confirm with you a resolution just announced by the board of directors. Yahoo's board of directors has just reached an agreement with me to start my resignation process as Yahoo's CEO. Yahoo chairman Roy posdoc
(Roy
Bostock) will be responsible for evaluating and identifying other candidates for the CEO to choose from. The Board will consider and evaluate internal and external candidates and have hired head hunting firm hedsizhe
(Heidrick & sstruggles.

I will also participate in the search for candidates, and I will continue to serve as CEO of Yahoo before my successor is determined. Once the new CEO candidate is determined, I will return to the previous "Yahoo Chief" (Chief
Yahoo) and will continue to serve Yahoo as a member of the board of directors.

In last June, I accepted the requirements of the Board of Directors to serve as the CEO of Yahoo! and began to restructure Yahoo! and reschedule its staff so that yahoo can respond to rapid changes of users and partners with higher efficiency.
Requirement. Since I became CEO, I have been discussing with the Board about the departure schedule. Thank you for your tireless efforts. We have created a more developed and competitive yahoo. Therefore, I
It is time to give the position of CEO to someone who can lead the company to a new level.
Although the external environment we are facing is not optimistic, Yahoo has been quite different from the one we were facing 18 months ago and has become more powerful in many aspects. Therefore, we must seize this opportunity and continue to develop.
As Yahoo's platform has been transformed and the cost and income have been more coordinated, I fully believe that we can provide a unique window for new CEOs, so that he can take over ya better
Tiger, and makes key decisions for the company when faced with problems in the future.

All Yahoo! People know that my blood vessels have been surging with Yahoo purple blood. I will do anything that I think is beneficial to Yahoo. Although my resignation will have a certain impact on everyone
Yes, I know this is a correct choice. I am looking forward to sharing with you the follow-up procedures on my resignation and will continue to do my best to bring Yahoo to the full potential.
Thank you!
Yang Zhiyuan...