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Struggling Yahoo's co-founder, Jerry Yang, has left the company after criticism that his baby had been stifled by a poor long-term perspective which had severely damaged its fortunes.

Yang leaves just a fortnight after former PayPal chief Scott Thompson was brought in with a brief to return the company to the heights it reached in the 1990s.

Company observers believe that Yang's departure leaves the way clear for a major investment of capital by private equity firms, or a possible sale of the company's 40 per cent stake in Chinese online trading website

“The perception among shareholders was that Jerry was more focused on trying to rebuild Yahoo rather than maximising near-term shareholder value,” analyst Ben Schacter told the Chicago Tribune.

Reuters reports that Yang will cut all ties with Yahoo, which will appease many shareholders who held him responsible for the breakdown of talks with Microsoft over a possible takeover in 2008.

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Richard Morris

Richard joined Lakestar McCann as news editor in 2009 and over the past three years has run the company's daily news feed service. Prior to joining the team at Lakestar he worked as a business reporter at Crain's Manchester Business, and spent three years as a general reporter at the North West Evening Mail in Cumbria.

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