Co-founder of Yahoo Inc Jerry Yang quit the company he began in 1995, to appease the shareholders blasting the Internet supreme for pursuing useless personal vision as well as impeding investment deals that might have transformed this struggling company.

This abrupt departure of Yang comes 2 weeks following the Yahoo appointing Scott Thompson as its new CEO. It has a mandate of returning the once-top Internet portal back to the heights it saw during the 1990s.

The Wall Street considers the departure of Yang like smoothing the path for a key infusion of cash through private equity, or deal for selling off much of the 40% slice of the China’s Alibaba, to unlock value for the shareholders.

The Yahoo shares gained 3% in following – hours trade.

The company has not provided any comments where Yang was heading, or the reason behind his sudden resignation. CEO Thompson gave some hints in a memo for employees after the announcement.

“I am grateful for the support and warm welcome Jerry provided me in my early days here. His insights and perspective were invaluable, helping me to dig deeper – more quickly than I could have on my own – into some of the key elements of the company and how it operates.”