Summary Box: Yahoo co-founder Jerry Yang moves on

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BOWING OUT: Jerry Yang is leaving Yahoo 17 years after he co-founded the company. His departure, announced Tuesday, comes two weeks after Yahoo Inc. hired former PayPal executive Scott Thompson as its CEO.

THE BREAKDOWN: Yang is resigning from the boards of Yahoo and two of the company’s most prized assets, China’s Alibaba Group and Yahoo Japan. He is also surrendering his title as Chief Yahoo.

THE LEGACY: Besides being known for creating one of the Internet’s best-known brands, Yang will be remembered for balking at a chance to sell the company to Microsoft Corp. for $47.5 billion in 2008.