Yahoo (NSDQ: YHOO) CEO Jerry Yang will step down from his post as soon as the board finds a suitable replacement, and BoomTown broke the story. The official release from Yahoo is out.

Kara also has his full memo to the Yahoo team, in which Yang says he’ll participate in the search for his successor. Once the new CEO is in place, Yang will go back to his role as Chief Yahoo—and he will retain his seat on the board. Full story on paidContent.org...

More coverage—including our poll—on Jerry Yang stepping down:
—Poll: Who Should Be the Choice For Yahoo CEO Position?
—Yahoo CEO Search: Some Possible Names: Miller, Chernin, Freston, Rosensweig and Others
—Yahoo React: Analysts Expect Board To Get Aggressive On MSFT, AOL Deal
—Yahoo CEO Search: Obama-Like Immediate Priorities
—Yahoo And Yang’s Greatest Hits: History In Links