With new CEO in place, Jerry Yang completely divorces from Yahoo

Yahoo co-founder and former CEO Jerry Yang has tendered his resignation from all of his positions at Yahoo, including his spot on the Board of Directors of Yahoo USA and Japan, and his position within Alibaba.

In a letter to the board, Yang said, "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."

Last September, Yahoo's chairman of the board Roy Bostock fired CEO Carol Bartz over the phone after serving as Chief Executive for three years, after Yang had stepped down.

Bostock today expressed his confidence in the executive shift.

"With Scott Thompson leading an outstanding team of Yahoos to deliver innovative products and an engaging customer experience, Yahoo!'s future is bright," Bostock said in a statement.

In search, at least, Yahoo's future doesn't seem so bright. Market analytics company comScore last week released its core search market breakdown and found that Yahoo sites had lost .6% of its market share, while Google and Microsoft sites gained the difference.