SAN FRANCISCO -(Dow Jones)- Embattled Yahoo Inc. (YHOO) Chief Executive Jerry Yang has agreed to give up his position, leaving the struggling Internet giant without a clear leader and increasing the possibility an acquirer might seek to buy it.

Yahoo, which earlier this year was the target of a $47.5 billion unsolicited takeover attempt by Microsoft Corp. (MSFT), said Monday it had hired a search firm to look for a successor to Yang, who co-founded the 13-year-old company while he was a graduate student at Stanford University.

Yahoo said it would consider internal and external candidates for the job. Yahoo President Sue Decker is one of the candidates under consideration, a ... Read more »