Yahoo's Yang to Step Down as CEO

After a tumultuous year and much searing criticism for his handling of Microsoft's buyout offer, Yahoo CEO Jerry Yang is stepping aside.

On Monday, Yahoo said it had begun a search for a new CEO. Yang, Yahoo's cofounder, will take on his former title of "Chief Yahoo" once a successor is found, the company said in a statement. He will also serve on the board.

Yahoo became CEO in June 2007.

More to follow.

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