Tuesday, November 18, Yahoo’s Chief Executing Officer (CEO) Jerry Yang stepped down from his position within the company, although he is said to remain at the web giant as Chief Yahoo.

Moreover, Yang will also keep his position on Yahoo’s board of directors, the former CEO having further added that he would help the company find a replacement for him.

The move comes as no surprise to many, since Yahoo has been trying to cope with numerous financial issues for a while now, resorting to every means possible to keep the company independent and Yang has come into much criticism for his inability to properly handle the situation.

Now, everybody seems to think Yahoo has no other way but to accept to be purchased by Microsoft Corporation in order to survive after online advertising sales, on which the declining web giant much relies, have plummeted recently.

In addition, Yahoo’s stock price has also decreased, with the company’s shares having closed at $10.63 a piece on Monday.

Back at the end of January, Microsoft offered Yahoo $31 a share, but the latter company’s board turned the offer down. Recently, Jerry Yang stated that Microsoft should make another bid to take over Yahoo, which according to analysts’ estimations, would bring Yahoo $1.4 billion in cost savings, along with a net income of $725 million.

Yahoo board members have asked executive-search firm Heidrick & Struggles International Incorporated to look for a replacement for Yang, while rumor has it that the CEO position might be offered to Yahoo's president Susan Decker.