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In this task, you are given a text of many news articles seperated by special token "|||||". Your task is to summarize them.

Holy big news. Jerry Yang, the oft-criticized Yahoo co-founder and board member, has resigned from the company’s board, Yahoo announced this afternoon. 
  
 Remember that Yahoo shareholder Dan Loeb wanted Yang off the board, and some Yahoo investors believed Yang was improperly talking on his own to potential suitors for Yahoo. Our Journal colleagues recently reported Yahoo was searching for a few good director candidates. 
  
 Yahoo’s statement (see below) says Yang is leaving the board to pursue other interests. Yahoo’s stock price is rallying about 3.6% in after-hours trading, no doubt because investors have seen Yang as a roadblock to a sale or other big shakeup at the company. 
  
 After the jump, read the statement from Yahoo: ||||| Summary: Yang infamously turned down a $31 a share, or $44.6 billion, offer from Microsoft. He should have left 10 minutes after screwing that Microsoft deal up. 
  
 The resignation of Jerry Yang from Yahoo's board---as well as Yahoo Japan and Alibaba---removes an obstacle that could set the company up for a more dramatic restructuring. Shame Yang didn't split earlier. 
  
 In a letter to Yahoo Chairman Roy Bostock, Yang wrote that he wanted "to pursue other interests." He added that he was enthusiastic about Scott Thompson as CEO. 
  
 The reality is that Yang should have gone years ago. In fact, Yang's decision to turn down an offer from Microsoft in 2009 was a fatal management move that was nearly impossible to recover from. Yang infamously turned down a $31 a share, or $44.6 billion, offer from Microsoft. He should have left 10 minutes after screwing that Microsoft deal up. 
  
 Now what? 
  
 Yang's resignation could set up a more dramatic restructuring at Yahoo that could revamp the company. The departure of Yang also gives Yahoo more time to think through its next move. Yang was too emotionally tied to the company he co-founded. With Yang gone, Yahoo can better pursue a few options that may have clashed with its co-founder. Among them: 
  
 The stage is set for Yahoo to elegantly---and profitably---exit its Asia assets for a nice windfall worth billions. 
  
 Yahoo can sell out more easily. Yang wanted Yahoo to stay independent and previously spurned Microsoft. Thompson has no such ties to the past. In other words, Yahoo can now more easily work around Yang's 3.6 percent stake in the company. It's much easier to work around Yang if he's not on the board. 
  
 The company buys itself time to restructure and figure out its future course. Yang was a lightning rod for disgruntled shareholders such as Third Point LLC. With Yang out of the picture, Yahoo can relieve some pressure while restructuring in or out of public view. 
  
 The afterhours movement in Yahoo shares---up 3 percent---tells you Yang's departure is welcome but there are doubts about the company's turnaround prospects. 
  
 Related: 
  
 Can Yahoo’s new CEO Thompson harness big data, analytics? ||||| SUNNYVALE, Calif. --(BUSINESS WIRE)-- Yahoo! Inc. (NASDAQ: YHOO), the premier digital media company, today announced that Jerry Yang has resigned from its Board of Directors and all other positions with the company, effective today. In addition, Yang resigned from the Boards of Yahoo Japan Corporation and Alibaba Group Holding Limited , effective today. 
  
 In a letter to the Yahoo ! Board Chairman Roy Bostock , Yang wrote: 
  
 "My time at Yahoo !, from its founding to the present, has encompassed some of the most exciting and rewarding experiences of my life. However, the time has come for me to pursue other interests outside of Yahoo ! As I leave the company I co-founded nearly 17 years ago, I am enthusiastic about the appointment of Scott Thompson as Chief Executive Officer and his ability, along with the entire Yahoo ! leadership team, to guide Yahoo ! into an exciting and successful future." 
  
 Yang co-founded Yahoo! Inc. in 1995 with David Filo and served as a member of the Board of Directors since March 1995 and as Chief Executive Officer from June 2007 to January 2009 . The Company went public in 1996. 
  
 "Jerry Yang is a visionary and a pioneer, who has contributed enormously to Yahoo ! during his many years of service," said Roy Bostock , Chairman of the Yahoo ! Board. "It has been a pleasure to work with Jerry. His unique strategic insights have been invaluable. He has always remained focused on the best interests of Yahoo!'s stakeholders, including shareholders, employees and more than 700 million users. And while I and the entire Board respect his decision, we will miss his remarkable perspective, vision and wise counsel. On behalf of the Board, we thank Jerry and wish him all the very best in his future endeavors." 
  
 Bostock concluded, "We appreciate Jerry's comments and share his enthusiasm for the company's prospects. With Scott Thompson leading an outstanding team of Yahoos to deliver innovative products and an engaging customer experience, Yahoo!'s future is bright." 
  
 "I am grateful for the warm welcome and support Jerry provided me during my early days here," said Scott Thompson , Yahoo!'s Chief Executive Officer. "Jerry leaves behind a legacy of innovation and customer focus for this iconic brand, having shaped our culture by fostering a spirit of innovation that began 17 years ago and continues to grow even stronger today. Jerry has great confidence in the future of Yahoo !, and I share his confidence in the enormous potential of Yahoo ! in the days ahead." 
  
 About Yahoo ! 
  
 Yahoo ! is the premier digital media company, creating deeply personal digital experiences that keep more than half a billion people connected to what matters most to them, across devices and around the globe. And Yahoo !'s unique combination of Science + Art + Scale connects advertisers to the consumers who build their businesses. Yahoo ! is headquartered in Sunnyvale, California . For more information, visit the pressroom (pressroom.yahoo.net) or the company's blog, Yodel Anecdotal (yodel.yahoo.com). 
  
 Yahoo ! is the trademark and/or registered trademark of Yahoo! Inc. All other names are trademarks and/or registered trademarks of their respective owners. 
  
 Forward Looking Statements 
  
 This press release contains forward-looking statements (including without limitation the quotations from our Chairman and management) concerning Yahoo !'s future management, strategic plans, growth opportunities and performance. Risks and uncertainties may cause actual results to differ materially from the results predicted. The potential risks and uncertainties include, among others, the impact of management and organizational changes; the implementation and results of any strategic plans as well as Yahoo !'s ongoing strategic and cost initiatives; Yahoo !'s ability to compete with new or existing competitors; reduction in spending by, or loss of, advertising customers; the demand by customers for Yahoo !'s premium services; interruptions or delays in the provision of Yahoo !'s services; security breaches; acceptance by users of new products and services; risks related to joint ventures and the integration of acquisitions; risks related to Yahoo !'s international operations; failure to manage growth and diversification; adverse results in litigation, including intellectual property infringement claims and recent derivative and class actions related to Alipay; Yahoo !'s ability to protect its intellectual property and the value of its brands; dependence on key personnel; dependence on third parties for technology, services, content, and distribution; general economic conditions and changes in economic conditions; transition and implementation risks associated with the Search Agreement with Microsoft Corporation; and risks that the benefits of the Framework Agreement Yahoo! entered into with Alibaba Group , Softbank Corporation and certain other parties regarding Alipay may not be realized. All information set forth in this press release and its attachments is as of January 17, 2012 . Yahoo ! does not intend, and undertakes no duty, to update this information to reflect subsequent events or circumstances. More information about potential factors that could affect Yahoo !'s business and financial results is included under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in Yahoo !'s Annual Report on Form 10-K for the fiscal year ended December 31, 2010 , and the Quarterly Report on Form 10-Q for the quarter ended September 30, 2011 , which are on file with the Securities and Exchange Commission ("SEC") and available at the SEC's website at www.sec.gov. 
  
 Media Relations: 
  
 Kekst and Company 
  
 Eric Berman , (212) 521-4894 
  
 or 
  
 Lissa Perlman , (212) 521-4830 
  
 or 
  
 Investor Relations: 
  
 Yahoo ! 
  
 Marta Nichols , (408) 349-3527 
  
 Source: Yahoo! Inc. 
  
 News Provided by Acquire Media |||||
Output:
Yahoo co-founder Jerry Yang has resigned as a board member and from all his other company positions. In a letter to the board's chairman, Yang said it was time for him to "pursue other interests," according to a company statement. He had faced criticism from shareholders; some believed he was holding the company back from an overhaul, the Wall Street Journal notes. But chairman Roy Bostock praised Yang's "remarkable perspective, vision and wise counsel." The company's stock price climbed some 3.7% in after-hours trading following the news. The resignation comes amid turbulence at the company. Yahoo recently appointed former PayPal head Scott Thompson as CEO, and the firm is gearing up for a shareholder meeting this spring that's sure to be contentious. The take from the Between the Lines blog at ZDNet: Good riddance. The bloggers think Yang should have left in 2009 after "screwing up" a potential deal with Microsoft, a mistake that has haunted the company since. His departure could lead to a "dramatic restructuring that could revamp the company."